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RBI turns cautious on monetary tightening

RBI turns cautious on monetary tightening

The Reserve Bank of India has turned cautious after some liquidity-tightening measures aimed at increasing borrowing costs. Market experts said the central bank did not want interest rate to rise sharply as that could create more problems for the economy. RBI on July 18 rejected bids that quoted higher yields for its Rs 12,000-crore bond sale programme, netting a paltry Rs 2,532 crore.