đź’¨ Abstract
The Reserve Bank of India (RBI) will inject a record 2.50 trillion rupees ($28.85 billion) into the Indian banking system through an overnight repo auction on Wednesday, following two sessions of aggressive foreign exchange market intervention to support the struggling rupee. The move aims to address a quadrupled liquidity deficit in the banking system, attributed to tax outflows and the RBI's aggressive dollar sales.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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