RBI sells ₹500 billion of bonds via OMO to drain liquidity
RBI sold ₹500 billion ($5.2 billion) of bonds under open market operations, stepping up efforts to drain surplus cash from the banking system.
2 billion) of bonds under its open market operations programme on Wednesday, intensifying efforts to drain surplus cash from the banking system. The RBI sold bonds in the 2029-2032 tenors as planned, the central bank said in a statement. Cutoff prices…