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Google searches for Operation Twist surged in India after the central bank announced its version of the U.S. Federal Reserves unconventional monetary policy.
Most searches for the term came from Maharashtra, the state that’s home to the financial hub Mumbai, and could climb through the day. The benchmark 10-year yield plunged by the most in more than two months following the central bank’s announcement Thursday evening.
Read also - Special OMO: RBI to buy, sell G-Secs worth ₹10,000 crore
Long India bonds climb on RBI’s Operation Twist
The Reserve Bank of India will buy longer-tenor bonds while selling shorter debt. The concept is similar to Operation Twist used by the Fed in 2011-2012 in an effort to cheapen long-term borrowing and spur bank lending.
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