With cash tightening, the Reserve Bank of India (RBI) has announced open market operations on Friday, to support banks and primary dealers. Open market operation is a cash infusion measure and implies outright purchase of government securities by the RBI from banks and primary dealers. RBI’s open market operation for Rs 12,000 crore will happen after a gap of more than four months. The last such operation was held on June 22, when cash had tightened due to RBI’s interventions in the foreign currency markets to support the rupee against the dollar.........
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