The Reserve Bank of India has unveiled a sweeping liquidity boost after discovering — somewhat predictably — that its February rate cut drifted past markets like a memo no one bothered to read. Instead of easing, market yields inched higher, a reminder that the price of money — interest rates — rarely budges without an adequate supply of it.The latest measures are a quiet admission that the system needed more than a symbolic gesture. Without sufficient liquidity, the rate cut was always going to struggle to make itself heard.
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