Indian bonds end flat as traders gauge RBI liquidity approach
In a cautious trading session, Indian government bonds experienced little movement as the Reserve Bank of India implemented temporary liquidity management strategies. By withdrawing substantial amounts through variable rate reverse repos, the central bank aimed to counterbalance the influx from sizeable diaspora deposits. Additionally, the pressure from rising oil prices kept bond prices from gaining traction, although overnight indexed swap rates registered slight decreases throughout the day.
RBL Bank's board has given the green light to raise up to one billion US dollars from foreign investors via a Euro Medium Term Note Programme. The bank's borrowing committee is entrusted with overseeing all vital steps required for this initiative. This decision comes on the heels of Emirates NBD Bank acquiring a controlling sixty percent stake in RBL Bank's enhanced share capital.
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