The Reserve Bank of India (RBI) today accepted bids for bonds worth Rs 1,969 crore under its open market operations as against the notified face value of Rs 6,000 crore.
Market players said the lower open market operations indicated that the pressure on government borrowing programme was subsiding as most of the fund-raising planned for the first half of the year had been completed. Despite the government planning to borrow Rs 2,99,000 crore by the end of the month, liquidity has remained abundant, partly due to tepid credit growth.
