This is likely to offset outflows that would happen after corporates pay their quarterly advance taxes by March 15, economists said. The VRR auction comes one day after the RBI announced additional liquidity measures comprising ₹1 lakh crore of open market operations (OMOs) and $10 billion of dollar-rupee buy-sell swaps.
Lenders may turn to OFCB route to raise more funds abroad
Indian banks are now shifting focus towards borrowing in overseas foreign currencies to meet their fundraising requirements. This strategic pivot comes in light of an