The Reserve Bank of India has net sold bonds worth 1 trillion rupees this fiscal year, the largest annual net sale in over a decade, as it withdraws liquidity from a banking system flush with cash. The previous record was 900 billion rupees in FY2018. Market participants expect the total to double by December, with further open market operations anticipated.
RBI Completes Record 1 Trillion Rupee Net Bond Sale
Source: Moneycontrol