The RBI will hold a variable rate repo auction today for a total of Rs 1 lakh crore.
Variable rate repo auctions are typically held by the RBI to replenish the banking system's liquidity when it enters deficit mode.
Starting today and lasting six days, the Reserve Bank of India (RBI) will hold a variable rate repo (VRR) auction for a specified sum of Rs 1 lakh crore.
The monies will be reversed on June 27. The auction is scheduled to take place between 10:30 and 11:00 am. "The Reserve Bank of India has decided to conduct a Variable Rate Repo (VRR) auction on June 21, 2024, Friday," the Central Bank stated in a release. The decision was made after reviewing the current and evolving liquidity conditions.
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