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.
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.
The maneuver, however, dates back to the John F Kennedy administration in the early 1960s, and got its name from Chubby Checker’s hit song, “The Twist,” according to a report from the Federal Reserve Bank of San Francisco.