RBI Governor Shaktikanta Das on January 7 said the market's response to the central bank's 'Operation Twist', wherein it is buying and selling government bonds simultaneously, is on expected lines.
The objective of the programme announced last month is to moderate high long-term interest rates in the market by changing the yield curve.
The RBI has so far carried out three rounds of what is called as 'Open Market Operations' under the programme.
"The response to the three rounds of operation twist of OMO is as expected," Das told reporters on the sidelines of an event here.
In the third special open market operation (OMO) in as many weeks, the RBI had on Monday bought Rs 10,000 crore of three long-term securities while selling a similar amount of three short-term bonds.
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