The Reserve Bank of India is currently grappling with a notable liquidity dilemma due to a surge in FCNR(B) scheme inflows. To navigate this, a pivotal variable rate reverse repo auction is set to influence the liquidity management strategy. The central bank may also utilize measures such as dollar swaps and bond sales.
Indian Bank raises deposit rates by 15 basis points
Indian Bank managing director Binod Kumar had said earlier that the bank does not have surplus liquidity as it shed Rs 10,000 crore of bulk