Google searches for “Operation Twist” surged in India after the central bank announced its version of the U.S. Federal Reserve’s unconventional monetary policy. Most searches for the term came from Maharashtra, the state that’s home to the financial hub Mumbai, and could climb through the day.
Daily Current Affairs Quiz 2019
The central bank buys long-term bonds while simultaneously selling short-term government securities to cheapen long-term borrowing and boost bank lending. The Reserve Bank of India buys longer-tenor bonds to sell for shorter debt. The Operation Twist in 2011-2012 to cheapen long-term financing and spur bank lending. It is India’s central bank that controls the issue and supply of the Indian rupee. RBI is the regulator of entire Banking in India. It plays an important part in the Development Strategy of the Government of India.
