-Reserve Bank of India to auction CMBs every Monday.
Global Banking News - 12 August 2013
The Reserve Bank of India has stated that it will be auctioning Government of India Cash Management Bills (CMBs) for a notified amount of INR200bn every Monday.
The decision was taken to contain the speculation in the foreign exchange market and rein in the falling rupee. Cash Management bills are being used by the central bank to modulate liquidity, although they are short-term instruments that are normally used by the government to overcome temporary cash flow mismatches.
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|Publication:||Global Banking News (GBN)|
|Date:||Aug 12, 2013|
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