He added, it has been my privilege and honor to serve in the RBI in various capacities over the years.
The Nifty Bank index dropped 0.58 percent, Realty down 0.61 percent and Auto plunged 2.32 percent reacting to the RBI move.
Bond prices gained on Wednesday on account of RBI’s announcement of buyback of government securities through open market operations (OMO).
Coal India was the top loser on the NSE, down 3.57 percent after the company has announced that the govt will be selling up to 9%of its stake in the prized public sector company as part of its ambitious disinvestment plan.
Meantime, the RBI has said that it will infuse Rs 40,000 crore into the system in November by buying govt bonds by way of open market operations for maintaining liquidity in the market.
In a move that will help ease cash shortage in the system and stabilize debt market rates, the RBI on Friday said that it will infuse Rs 40,000 crore in the banking system in November.