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The Reserve Bank has doubled the amount of the 12-day variable rate term repo auction scheduled for today to ₹50,000 crore.
This auction was originally scheduled on March 30. But the RBI decided to advance it to March 26. The auction was advanced in view of the rapidly evolving financial conditions and taking into account the impact of disruptions caused by COVID-19.
The RBI is conducting these auctions to address any additional demand for liquidity and to provide flexibility to the banking system in year-end liquidity management.
As a special case, Standalone Primary Dealers (SPDs) were also allowed to participate in these auctions along with other eligible participants.
The RBI will be conducting a 3-day variable rate term repo auction for ₹25,000 crore on March 31.
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