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RBI moves to suck out excess liquidity - The Times of India
MUMBAI: The $136.4 billion raised by banks from non-residents and foreign lenders, then swapped with RBI, has swelled India's foreign-exchange reserves by a record $44.9 billion to $785.7 billion in the week ended Sept 4. The windfall gives RBI a larger war chest to defend the rupee, but creates a problem at home with too much cash in the banking system.
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