India’s RBI to buy 4- to-25-year bonds in open market purchases on Thursday

MUMBAI: The Reserve Bank of India will conduct the first of two open market bond purchases on Thursday.

The central bank will buy seven securities maturing between December 2029 and December 2050 worth a total of 500 billion rupees ($5.56 billion), it said on Friday.

India central bank asks banks to ringfence non-core business

Earlier in the day, RBI Governor Sanjay Malhotra announced a 25 basis-point rate cut and said the central bank would carry out bond purchases worth 1 trillion rupees and a dollar/rupee buy-sell swap in December.