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India raises market stabilisation bond issuance limit, RBI says

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India on Friday raised the limit of bonds that can be issued under a market stabilisation scheme to 6 trillion rupees ($87.84 billion) from the budgeted 200 billion rupees, laying the groundwork to absorb the extra liquidity from demonetisation.The government, with advice from the central bank, has taken the action as the country's ban on 500 and 1,000 rupee notes had created "a significant increase of liquidity" that was "expected to continue for some time," the Reserve Bank of India said in a statement.Market stabilisation scheme (MSS) bonds allow India's central bank to ...

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First Published: Fri, December 02 2016. 15:19 IST