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RBI Cancels $3 Billion of Treasury Bill Sale
Mint Bangalore
|February 21, 2025
India's central bank did not accept any bids for 91 and 182-day treasury bills in an auction Thursday amid a cash squeeze in the nation's banking system.
The Reserve Bank of India rejected bids for ₹26,000 crore ($3 billion) of sales, it said in a statement. The authority sold ₹7000 crore of 364-day bills at 6.5638%, the statement added.
India's banking system liquidity remains in deep deficit despite recent cash injection measures by the RBI. Banks have borrowed about ₹2 trillion from the central bank as of Wednesday, according to a Bloomberg Economics index.
This story is from the February 21, 2025 edition of Mint Bangalore.
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