.... After releasing Prime Minister’s Economic Advisory Council (PMEAC)’s Review of the Economy for 2011-12, Rangarajan, who was RBI governor in 1990s, said: “In my view, OMOs are better instruments as you can calibrate and time it according to liquidity conditions. I have favoured OMOs as appropriate instrument for injecting liquidity into the system.” His comments come a day after the Reserve Bank of India deputy governor Subir Gokarn said the central bank will consider another CRR cut to infuse liquidity into the system......
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