60,000 crore, there is still scope for routing many more systemically important payments through the RTGS. For the purpose, enhancing the customer awareness at the user level would be an urgent imperative.
In the presence of large sovereign borrowing that makes the government’s fiscal stance unsustainable, central banks typically have little choice. If they do not conduct OMOs to bring systemic liquidity within reasonable limits, they risk losing control over financial stability. If they do conduct OMOs, they risk losing control over price stability.