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RBI Drains Surplus Cash from Banks with ₹50,000 Crore Open Market Securities Sale

RBI Drains Surplus Cash from Banks with ₹50,000 Crore Open Market Securities Sale
Photo: Free Press Journal · view original

Mumbai: The Reserve Bank of India accepted bids worth ₹50,000 crore in the first tranche of its open market operation sale of government securities, stepping up efforts to withdraw surplus liquidity from the banking system. The central bank accepted ₹7,005 crore of 7.59% government securities mat...

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