The Reserve Bank of India announced a Rs 25,000 crore open market operation sale of government securities on October 9 to absorb surplus banking liquidity. The auction will be held on October 13. Dealers expect bond yields to open 4-5 basis points higher on Monday. The RBI also raised the minimum daily CRR maintenance requirement to 99 percent from 90 percent, effective October 16.
RBI Announces Rs 25,000 Crore OMO Sale to Drain Liquidity
Source: Moneycontrol