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Did the RBI sneakily raise interest rates?
Finshots Daily
The Standing Deposit Facility Could Mop Up Eight Point Five Lak Crow Rupees
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The Reserve Bank of India has introduced a standing deposit facility for banks to park excess money with the ar bi. The r b i is expected to post collateral in the shape of goe ment bonds, but it doesn't have to this time. Finshot: This could mop up that extra money supply we talked about earlier. It's why they're offering a higher interest rate when compared to the rivers repor rate.
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