India Overnight Rates Climb as Liquidity Surplus Evaporates

India's overnight lending rates rose as banking system liquidity surplus fell to approximately 500 billion rupees from around 11 trillion rupees the previous month. The Reserve Bank of India manages liquidity through open market operations and other tools to influence short-term interest rates. Banks charge higher rates to each other for overnight borrowing when system-wide cash reserves tighten.

• Bloomberg — India Overnight Rates Climb as Liquidity Surplus Evaporates

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