Private banks make largest single-day govt bond purchase in 7 years
These banks bought bonds worth a net of 83.43 billion rupees ($1 billion), the biggest such purchase since Nov. 15, 2016, as per data from Clearing Corp of India. This pushed overall buying to above 200 billion rupees for November, after net sales of 101 billion rupees in October.
A large corporate likely bought around 50 billion rupees of the benchmark paper through a private sector bank, traders said.Image Courtesy: Reuters.