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RBI absorbs ₹2.10 trillion via VRRR auctions amid surplus liquidity
The Reserve Bank of India (RBI) on Monday absorbed Rs 2,10,192 crore liquidity from the banking system through two overnight Variable Rate Reverse Repo (VRRR) auctions, amid huge surplus liquidity in the system. During the first auction, the central bank received bids worth Rs 2,10,688 crore for a notified amount of Rs 2 lakh crore. It accepted Rs 2,00,050 crore at a weighted average rate of 5.24 per cent. However, the response from banks in the second auction was tepid, with just Rs 10,142 cro…
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