The Reserve Bank of India (RBI) received bids worth ₹2.13 lakh crore from banks against the notified amount of ₹2.75 lakh crore for the two variable rate repo (VRR) auctions held on Friday, as lenders grapple with a cash crunch amid strained liquidity conditions.
The heightened deficit led the RBI to hold two VRR auctions on the same day to inject liquidity into the banking system. Of the two auctions, the 14-day auction with a notified amount of ₹1.5 lakh crore garnered bids worth ₹1.28 lakh crore, while the 4-day auction attracted bids totaling ₹85,247 crore from banks.
This story is from the December 28, 2024 edition of Financial Express Kochi.
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This story is from the December 28, 2024 edition of Financial Express Kochi.
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