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    532149   INE084A01016

BANK OF INDIA LIMITED

(532149)
  Report
End-of-day quote Bombay Stock Exchange  -  2023-02-05
79.10 INR   -0.82%
07:53aSocGen's Monday Outlook for Currencies, Bonds, Macroeconomics, Policy Events
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India's RBI ready to inject more cash, if needed - Governor Das

12/07/2022 | 12:41am EST
The Reserve Bank of India (RBI) Governor Shaktikanta Das arrives at a news conference after a monetary policy review in Mumbai,

MUMBAI (Reuters) - The Reserve Bank of India is ready to inject additional cash through Liquidity Adjustment Facility (LAF) operations if need arises, Governor Shaktikanta Das said on Wednesday.

"The RBI remains nimble and flexible in its liquidity management operations. So, even though the RBI is in absorption mode, we are ready to conduct LAF operation that injects liquidity as may be needed," Das said, while announcing the central bank's monetary policy decision to raise key lending rate by 35 basis points (bps).

"We will look for a durable sign of a turn in the liquidity cycle. Market participants must wean themselves away from overhang of liquidity surpluses," he added.

India's banking system liquidity has slipped into deficit in October, but improved in recent weeks amid heavy government spending, traders have said.

Daily banking system liquidity surplus has averaged 1.59 trillion rupees ($19.28 billion) so far in December, up from around 500 billion rupees in November.

Das further said, overall monetary and liquidity conditions remain "accommodative," with liquidity conditions set to improve further.

Tax outflows and currency demand produce "transient episodes" of tight liquidity, he added.

The central bank will also extend the enhanced limit to hold more government bonds under held-to-maturity category by another year up to March 31, 2024.

It had previously planned to bring down holding in phases, from April-June 2023.

($1 = 82.4700 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Dhanya Ann Thoppil)


ę Reuters 2022
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Analyst Recommendations on BANK OF INDIA LIMITED
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Financials
Sales 2023 257 B 3 104 M 3 104 M
Net income 2023 42 698 M 516 M 516 M
Net Debt 2023 - - -
P/E ratio 2023 7,66x
Yield 2023 2,31%
Capitalization 325 B 3 922 M 3 922 M
Capi. / Sales 2023 1,26x
Capi. / Sales 2024 1,25x
Nbr of Employees 51 825
Free-Float 18,6%
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Shankar Sen Chief Financial Officer
Rajesh V. Upadhya Secretary & Compliance Officer
Veni Thapar Independent Director
Subrata Das Non-Executive Director
P R Rajagopal Executive Director
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