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flag India's RBI plans a $10 billion swap auction to inject liquidity into banks, its largest such effort.

flag The Reserve Bank of India (RBI) plans to conduct a $10 billion three-year USD/INR swap auction on February 28 to inject long-term liquidity into the banking system, addressing a liquidity deficit of approximately ₹1.90 lakh crore. flag This follows a $5.1 billion six-month swap in January. flag The RBI aims to stabilize liquidity through various measures, including repo auctions and open market purchases. flag This swap, with a settlement on March 4 and a final leg on March 6, 2028, marks the RBI's largest such arrangement to date.

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