The Reserve Bank of India (RBI) will conduct a 14-day variable rate reverse repo (VRRR) auction on Friday for a notified amount of Rs 50,000 crore. The auction will be held between 10:30 am and 11:00 am, the central bank said in a press release. The reversal of these funds will take place on March 10.
The VRRR is usually undertaken to withdraw excess liquidity from the system.
RBI Governor Shaktikanta Das, in the monetary policy minutes released on 22 February said that the overall liquidity remains in surplus, with average daily absorption under the LAF increasing to Rs 1.6 lakh crore during December-January from an average of Rs 1.4 lakh crore in October-November.
VRRR auction's details for today
Sl. No. | Notified Amount(Rs crore) | Tenor (day) | Window Timing | Date of Reversal |
1 | 50,000 | 14 | 10:30 AM to 11:00 AM | March 10, 2023(Friday) |
Operational details
(Edited by : Anshul)
First Published: Feb 24, 2023 9:03 AM IST
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