Core Viewpoint - The Reserve Bank of India (RBI) has announced three liquidity-boosting measures aimed at significantly enhancing system liquidity and aiding in the transmission of rate cuts made over the past year [10]. Group 1: Liquidity Measures - The RBI will conduct an open market operation (OMO) purchase of ₹1 lakh crore in two tranches of ₹50,000 crore each on February 5 and February 12 [10]. - A three-year dollar-rupee buy-sell swap of $10 billion will be conducted on February 4, which is expected to infuse nearly ₹92,000 crore into the banking system [2][10]. - A 90-day variable rate repo operation of ₹25,000 crore is scheduled for January 30 [2][10]. Group 2: Current Liquidity Status - System liquidity stood at a daily average surplus of ₹57,120 crore in January so far, compared to ₹72,549 crore in December [4][10]. - As a percentage of net demand and time liabilities (NDTL), liquidity is at 0.2% in January, down from 0.3% in December [4][10]. Group 3: Future Expectations - Market participants expect the RBI to continue conducting OMOs, with expectations of ₹2 lakh crore in February and March, and additional measures of ₹5 lakh crore in the next fiscal year [4][10]. - With the latest liquidity measures, liquidity is projected to reach around 0.9% of NDTL, assuming minimal leakage from liquidity via foreign exchange market interventions [6][10].