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Informative
RBI to conduct Rs 75,000 crore 14-day variable rate repo auction on June 14
Update / Judgement Date
12 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
RBI
On June 13, the Reserve Bank of India announced a 14-day variable rate repo (VRR) auction worth Rs 75,000 crore scheduled for June 14. The auction aims to address current liquidity conditions, with funds set to be reversed on June 28. The central bank typically conducts VRR auctions to inject liquidity into the banking system during deficits. \r
Currently, RBI data indicates a liquidity deficit of approximately Rs 7,766.01 crore in the banking system.
