RBI’s $91 Billion Bond Buying Aids India Deficit It Criticizes

RBI’s $91 Billion Bond Buying Aids India Deficit It Criticizes

Brent Lewin/Bloomberg

Signage for the Reserve Bank of India (RBI) is illuminated at night in the BBD Bagh area of Kolkata. The Reserve Bank is prohibited from buying notes directly from the government, instead acquiring them from investors through so-called open-market operations.