The  BIS Review 116/2009  5  overnight call money rate, which had jumped to 13 per cent on September 16, 2008 touched a peak of 19.8 per cent on October 10, 2008, and the access to liquidity from the RBI through LAF (Liquidity Adjustment Facility) repo crossed Rs. 900 billion.
The RBI, thus, had to meet the liquidity needs, in both domestic and foreign currency so as to ensure smooth functioning of the markets. The response from the Reserve Bank of India We are aware that a central bank must pay attention to money and credit growth.