 "RBI")
The Reserve Bank of India (RBI) will again swap up to $5 billion to infuse durable liquidity in the system, a month after the first swaps saw a massive response from banks.
Market participants offered up to $16.31 billion against the notified amount of $5 billion in the auction held on March 26. The next auction for three-year tenure will be held on April 23, the RBI said in a notification on its website on Monday. The markets were closed being the first day of the financial year.
In the swaps, the auctions are done to determine the forward premiums. While the
