In a move to support liquidity in the system, the Reserve Bank of India (RBI) Governor Sanjay Malhotra announced liquidity management operations, which will inject around Rs 1.5 lakh crore into the system. The central bank said that it will conduct bond purchases worth Rs 1 lakh crore through open market operations (OMO) and a three-year USD/INR Buy Sell swap of $ 5 billion in December. Kanika Pasricha, chief economic advisor, Union Bank of India believes that this will provide short-term relief to the bond market, adding that the RBI has frontloaded the liquidity operations. “Although the existing liquidity measures seem adequate for the time being, any additional steps will depend on the extent of further forex-related impacts on liquidity and whether the RBI accepts the Rs 40,000 crore maturity in January,” she added.