On 19 December, the Reserve Bank of India (RBI) announced an unusual set of operations—that it was selling government bonds maturing in 2020 and buying those maturing in 2029. RBI repeated this action on 26 December, to be conducted on 30 December. RBI’s initial action, now popularly called Operation Twist, was seen as the Indian version of an action undertaken by the US Federal Reserve in 2011 as part of its efforts to revive the economy hit by the global financial crisis.
Where do HNIs in India prefer to invest these days?
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