Bond market participants expect that the Reserve Bank of India (RBI) may resort to instruments like open market operations (OMO) and foreign exchange interventions to drain excess liquidity from the banking system. Surplus liquidity in the banking system stood at 2.78 trillion on Tuesday, according to the latest RBI data.
"Despite GST outflows, the surplus liquidity remains very large, I think the RBI might use other tools like OMO to drain durable liquidity from the system," said the treasury head at a private bank.
This story is from the August 08, 2024 edition of Business Standard.
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This story is from the August 08, 2024 edition of Business Standard.
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