India's central bank withdraws over 6 trillion rupees of bank liquidity after record spike
The Reserve Bank of India absorbed more than ₹6 trillion through liquidity withdrawal operations after banking system surplus hit a record ₹11.6 trillion. Banks parked ₹2.59 trillion in a 30-day auction, while ₹3.53 trillion was offered in an overnight auction. The RBI may deploy additional reverse repos, market stabilisation bonds and sell-buy swaps to drain excess liquidity.
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
