RBI's 29-day VRRR auction receives tepid response despite high surplus liquidity
The Reserve Bank of India on Thursday executed a noteworthy 29-day variable rate reverse repo auction, attracting Rs 79,655 crore in bids, fully accepted at a 5.49 percent rate. This event contrasted sharply with the one-day VRRR auction, which invited bids totaling Rs 1,60,664 crore. Currently, the banking sector enjoys a liquidity surplus of around Rs 4.
Key Takeaways
- The Reserve Bank of India on Thursday executed a noteworthy 29-day variable rate reverse repo auction, attracting Rs 79,655 crore in bids, fully accepted at a 5.49 percent rate.
- This event contrasted sharply with the one-day VRRR auction, which invited bids totaling Rs 1,60,664 crore.
- Currently, the banking sector enjoys a liquidity surplus of around Rs 4.
The Reserve Bank of India on Thursday executed a noteworthy 29-day variable rate reverse repo auction, attracting Rs 79,655 crore in bids, fully accepted at a 5.49 percent rate. This event contrasted sharply with the one-day VRRR auction, which invited bids totaling Rs 1,60,664 crore. Currently, the banking sector enjoys a liquidity surplus of around Rs 4.
Original Publisher Attribution
This summary was curated from Economic Times.