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India raises market stabilisation bond issuance limit, RBI says
India on Friday raised the limit of bonds that can be issued under a market stabilisation scheme to 6 trillion rupees ($87.84 billion) from the budgeted 200 billion rupees, laying the groundwork to absorb the extra liquidity from demonetisation. Market stabilisation scheme (MSS) bonds allow India's central bank to issue special bonds to remove liquidity from the financial system. The move to raise the limit for MSS bonds during this fiscal year had been expected.
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