💨 Abstract

The Reserve Bank of India (RBI) increased the funds it plans to inject into the banking system through an overnight infusion, to 2.50 trillion rupees ($28.85 billion), following aggressive foreign exchange market interventions. The move aims to counteract tightness in the banking system caused by RBI's intervention, which has made last week's rate cut ineffective as lenders cannot pass on lower rates to customers.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖