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The Reserve Bank of India may consider selling bonds to sponge off surplus cash, Governor Shaktikanta Das said Friday, while keeping the policy rate unchanged. The surprise announcement soured the mood in the debt market, sending benchmark yields surging by the most in over a year
The RBI, since the beginning of the tightening cycle in May 2022, has been talking about focusing on the withdrawal of accommodation. Nearly 17 months later, the situation is hardly what the RBI wanted: By September-end, core liquidity was ₹2.8 lakh crore and that is set to rise to ₹3.3 lakh crore with the total withdrawal of the Incremental Cash Reserve Ratio
RBI MPC: The yield in 10-year benchmark 7.18 percent 2033 bond was trading at 7.2890 percent on 10:50 AM, as against 7.2140 percent close on the previous trading session.
RBI on October 6 said the central bank will consider open market operations (OMO) sales to manage liquidity.