Money & Banking

RBI holds variable repo auction, receives bids worth Rs 46,160 crore

Our Bureau Mumbai | Updated on March 24, 2020 Published on March 24, 2020

The Reserve Bank of India (RBI) on Tuesday received bids aggregating Rs 46,160 crore at the 16-day variable repo auction against the notified amount of Rs 50,000 crore.

At the 16-day variable rate repo auction aggregating Rs 50,000 crore held on Monday, the RBI received bids aggregating Rs 31,585 crore.

The cut-ff rate at both the aforementioned auctions was 5.16 per cent. These “fine-tuning” variable rate 16-day term repo auctions have been conducted to infuse rupee liquidity in the financial system amid the COVID-19 outbreak.

As a special case, the RBI said standalone Primary Dealers have been allowed to participate in the variable rate term repo auctions along with other eligible participants.

Published on March 24, 2020
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