India's central bank used currency swaps to drain cash from banks, according to people familiar with the matter

India's central bank withdraws over 6 trillion rupees of bank liquidity after record spike

The Reserve Bank of India absorbed more than ₹6 trillion through liquidity withdrawal operations after banking system surplus hit a record ₹11.6 trillion. Banks parked ₹2.59…

RBI likely deploys FX swaps to mop up overseas deposit-driven liquidity, traders say