MUMBAI (Reuters) - The Fixed Income Money Market and Derivatives Association of India said there would be no trading bands for government bonds and other securities on Thursday.
The trading body has been removing or relaxing trading bands in recent sessions in view of the sharp volatility in government bonds.
The Reserve Bank of India (RBI) took steps to drain cash late Tuesday, including lowering the amount banks can borrow under its daily liquidity window, raising the amount of daily cash reserve ratio requirements, and announcing the sale of short-end cash management bills. (Reporting by India Markets Team; Editing by Supriya Kurane)
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