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Informative
RBI to conduct Rs 1-lakh-crore 6-day VRR auction on June 21
Update / Judgement Date
19 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
RBI
On June 20, the Reserve Bank of India (RBI) announced plans to conduct a six-day Variable Rate Repo (VRR) auction for an amount of Rs 1 lakh crore on June 21. This move aims to address current liquidity conditions. The auction is scheduled between 10:30 AM and 11:00 AM, with funds scheduled for reversal on June 27. \r
The central bank typically uses VRR auctions to inject liquidity into the banking system during periods of tight liquidity or deficits. As of the latest data, the banking system faces an estimated deficit of approximately Rs 1.56 lakh crore.
