India's state-run banks to lower bond purchases as liquidity tightens, treasury officials say
© Reuters. FILE PHOTO: A man walks along a wall overlooking the central Mumbai's financial district skyline, India, March 9, 2017. REUTERS/Danish Siddiqui/File Photo
"Yes, the levels are lucrative, and we would be on the buy side, but banks will also have to take into account the liquidity conditions and also additional supply from the central bank," a treasury head at a mid-sized state-run bank said.These lenders have bought 253 billion rupees of government debt since Sept. 22, including 100 billion rupees on Oct. 6.
The RBI's focus on bringing inflation close to its target of 4% means yields won't fall much, lowering the chances for booking profits.
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