Gearing up to face a difficult financial year, the Reserve Bank of India [Get Quote] on Friday said it will explore all options to maintain comfortable liquidity position, while managing government's borrowing programme in a "least disruptive manner".

"We will maintain a very comfortable liquidity position. There are several options and measures that we can take to manage liquidity. We will explore and apply all of that as appropriate," Reserve Bank of India Governor D Subbarao told reporters on the sidelines of the 6th Convocation Programme at the Indira Gandhi Institute of Development Research, in New Delhi.

The central bank, he said, would endeavour of manage the borrowings programme of the government in a "least disruptive manner".

He further added, "We will see that the market is stable. We will see there is no volatility and we will manage the government borrowing programme in the most efficient way possible. All options are open--we will manage to borrow in a transparent manner."

Describing the present global crisis as unprecedented and said that the apex bank had, in its policy statement, said that "the year 2009-10 will be a difficult year than 2008-09".