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Governor Sanjay Malhotra also announced a ₹1 lakh crore open market operations to boost liquidity. This is not intended to influence the yields on government bonds. The yield on the benchmark 10-year bonds fell 5 basis points right after the decision. FILE PHOTO: PTI

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The Indian central bank also said that it would open a three-year window for dollar rupee buy-sell swap. Under this mechanism, the RBI would buy US dollars from banks, in exchange for rupees, with an agreement to sell the original currency back to the banks at a specified future date. The buy-sell swap injects liquidity into the system in the short term, and the rate at which the central bank repurchases the currency includes a premium. FILE PHOTO: REUTERS/Francis Mascarenhas

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RBI increased FY26 GDP

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