India RBI Rejects Some Short Bond Bids As Cash Drain Fears Mount
Indiaโs central bank rejected some bids at a sale of shorter papers amid growing worries over stronger steps by the authority to remove excess banking cash.
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Indiaโs central bank rejected some bids at a sale of shorter papers amid growing worries over stronger steps by the authority to remove excess banking cash.
Indiaโs central bank rejected estimates that its record foreign-currency deposit drive will prove costly, saying the inflows will instead generate additional income for the Reserve Bank of India as it deploys the dollars overseas, Governor Sanjay Malhotra said Friday.
Indiaโs central bank used currency swaps to drain cash from banks, according to people familiar with the matter, as excess funds in the financial system climbed to a record
India tapped its vast diaspora for a record $127 billion through a special deposit program, a fundraising bonanza that economists say could come with a hefty $10.6 billion bill for the countryโs central bank.