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SBP injects Rs926 billion in baking system

KARACHI – State Bank of Pakistan on Friday injected Rs926 billion into the banking system at rate of 5.84pc per year for seven days to save it from liquidity crunch.

According to an SBP statement, it conducted open market operation and injected Rs926 billion in the banking system.

The SBP said that it received 20 applications for providing a whopping Rs960 billion to the banking system but it accepted 18 offers amounting to Rs926 billion.