New Delhi, Jan. 28 -- Despite a record liquidity push by the Reserve Bank of India (RBI), transmission of monetary easing across financial markets remains uneven, according to SBI Research's latest Ecowrap report.

The report noted that although the RBI has reduced the repo rate by 125 basis points and undertaken unprecedented liquidity operations during the current fiscal, bond and money market yields have not softened in tandem.

It says "Record net RBI liquidity injection at Rs 5.5 lakh crore in current fiscal has still resulted in asysmetric transmission, highlighting the need to innovate on OMO management as a better signalling device."

SBI Research pointed out that factoring in CRR-related measures, buy-sell swaps and currency leak...