Over the same period, imports have grown by 2.17 per cent from $ 375.25 billion to $ 383.41 billion. The trade deficit is marginally higher during April-January 2014–15 over the previous year. 21.
Prior to October 2008, refinancing operations were conducted as variable rate tenders, with allotment amounts closely aligned with the aggregate liquidity needs of the banking system (often referred to as “benchmark allotment”). Conceptually, the liquidity needs of the banking system mainly result from non-banks’ demand for banknotes and substantial remunerated reserve requirements.