look news india
News India Live, Digital Desk: To increase liquidity, the Reserve Bank of India (RBI) has given the largest amount so far in this financial year. Open Market Operation (OMO) has driven. Under this the market is close to Rs 6.6 lakh crore Cash has been deposited. Despite this, interest rates on government bonds and other investment instruments are not falling as expected. SBI Research In the latest report, this situation has been termed as ‘Uneven Transmission’.
According to the report, RBI has in the last one year Repo rate cut by 1.25% But its impact is not visible equally in every part of the market.
Grand campaign of liquidity: words of data
Group Chief Economic Advisor of SBI Dr. Soumya Kanti Ghosh According to , the figure for the total cash injected into the market is shocking:
Through OMO: ₹6.6 lakh crore.
Net Liquidity: If CRR cuts, swaps and currency leakage are combined, effectively ₹5.5 lakh crore Have reached the market.
Claim: This is the largest liquidity management operation in Indian monetary history.
Taking loan from banks becomes cheaper, companies happy
One positive aspect that has emerged in the report is that there has been a significant decline in the loan rates of banks.
Magic of EBLR: About 65% of banks’ loans are linked to external benchmark (EBLR), so the benefits of repo rate cut have reached the customers quickly.
Reduction in interest rate: Average rate on new rupee loan till November 2025 62 basis points (BPS) by decreasing 8.71% But she has arrived.
Corporate Shift: Now big companies are finding it cheaper and more profitable to take loans from banks instead of raising money from the market (bonds).
‘Brake’ on bond market and states’ debt
Despite all this cash, interest rates still remain high in some sectors:
Money Market: An increase in interest rates has been seen here from August 2025.
State Loan (SDL): Average interest rate on loans taken by states 7.16% In which compared to last year only 0.07% There has been a slight decrease.
Corporate Bond Yield: The yield on 10-year AAA rated bonds has started rising again since June.
RBI’s new experiments and SBI’s suggestion
The report described the RBI’s decision to prematurely repay the repo loan by 90 days as ‘unique globally’. SBI Research suggests that:
RBI in those bonds OMO Should be done in those where there is more trading.
This will give a clear signal to the market and increase investor confidence.