📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
The Central Bank of India releases 10 billion USD in funds to raise short-term Interest Rates.
Gate News bot reports that, according to Bloomberg, the Reserve Bank of India has withdrawn 849.75 billion rupees (approximately 10 billion USD) of excess cash from the banking system for the first time in seven months, aiming to increase overnight borrowing costs.
The Reserve Bank of India stated in a statement that it had conducted a 7-day variable rate reverse repo auction on Friday, repurchasing funds at a cutoff yield of 5.49%. The Reserve Bank of India originally planned to absorb 1 trillion rupees.
This move aims to absorb excess liquidity and may be intended to align the overnight borrowing cost with the policy rate (currently at 5.5%). For several months, the overnight rate has been below the policy rate.
Ritesh Bhusari, Co-General Manager of the Financial Department at South Indian Bank, stated: "Even with this operation, liquidity will remain in surplus. The Reserve Bank of India will maintain liquidity surplus to reach about 1.5%-2% of net deposits; if it exceeds this level, they may take further actions."
The trading price of the 2027 bond with an interest rate of 7.02% rose by one basis point to 5.80%, and the yield on the benchmark 10-year bond also increased by a similar margin to 6.29%.