India’s RBI to Inject $10.9 Billion Via Fresh Bond Purchases

India’s central bank announced fresh measures aimed at boosting banking liquidity, with a plan to buy government bonds through auctions.

The Reserve Bank of India will buy bonds worth 1 trillion rupees ($10.9 billion) in two tranches this month, it said in a statement late Friday. The auctions of 500 billion rupees each will take place on March 9 and March 13.