RBI's $10 Billion Money Splash Has Banks Swimming in Rupees
Key Points
- The Reserve Bank of India is injecting ₹87,000 crore into th...
Looks like India's central bank finally got tired of playing hard to get with liquidity - they're now throwing money around like a lottery winner at a luxury car dealership! The Reserve Bank of India (RBI) just announced a whopping $10 billion worth of long-term dollar-rupee buy/sell swap auctions spread over the next three years.
Show Me The Money, Honey!
Starting February 28, this mega-auction is set to pump ₹87,000 crore into India's financial system. Talk about perfect timing - the banking system's currently running on fumes with a liquidity deficit of ₹1.87 lakh crore as of February 20...
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