The benchmark 10-year bond yield falls 1 basis point at 8.14 per cent after the RBI announces an open market operation (OMO) to ease a large cash crunch.The RBI will buy up to 80 billion rupees of bonds on Friday, less than the 120 billion rupees it has bought earlier in December.
Dealers were expecting more OMOs after the RBI desisted from lowering the cash reserve ratio on Tuesday at its policy review.
Post policy, RBI deputy governor Gokarn said that the RBI will conduct OMOs as warranted to address liquidity concerns.
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