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Following the success of its two Long-Term Repo Operations (LTROs) this month, the RBI has decided to conduct two more such operations next month of ₹25,000 crore each.
The RBI will conduct the first LTRO of three-year tenor on March 2, and the second LTRO, also of three-year tenor, on March 9.
The LTROs are being conducted by the RBI to inject durable liquidity into the banking system and ensure transmission of monetary policy changes.
The two LTROs that were conducted this month got a thumping response from banks. In the first LTRO of three-year tenor, conducted on February 17, banks placed bids for almost eight times the notified amount of ₹25,000 crore. In the second LTRO of one-year tenor, conducted on February 24, banks placed bids for almost five times the notified amount of ₹25,000 crore.
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