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RBI absorbs ₹2.23 trillion via variable rate reverse repo auction
The Reserve Bank of India (RBI) on Friday absorbed Rs 2.23 lakh crore from the banking system amid surplus liquidity by conducting a variable rate reverse repo (VRRR) auction. The central bank received bids worth Rs 2,22,629 crore, which it accepted fully, for a notified amount of Rs 2.25 lakh crore. The amount was accepted at a weighted average rate of 5.24 per cent, the RBI said in a release. The RBI has been conducting VRRR auctions since last month in order to absorb excess liquidity from t…
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