November 18, 2017 1:29 AM

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RBI withdraws sale of Rs 10,000 crore worth of govt securities under Open Market Operations

The Reserve Bank of India, RBI, has withdrawn the sale of Rs Ten thousand crore worth of government securities under Open Market Operations, OMO.The central bank in a statement in Mumbai today said, in view of the recent market developments and based on a fresh review of the current and evolving liquidity conditions, it has been decided to withdraw the OMO scheduled for November 23. US-based Moody's today upped India's rating to Baa2 from Baa3, changing outlook to 'stable' from 'positive', seen as a boost to the Modi government's reform agenda.

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