Variable Rate Reverse Repo Auction
Recently, the Reserve Bank of India conducted a 7-day Variable Rate Reverse Repo (VRRR) auction to manage liquidity, receiving and accepting Rs. 84,975 crore in bids against a notified amount of Rs. 1 lakh crore.
- VRRR is the rate at which the Reserve Bank of India (RBI) borrows money from banks for a variable period of time, usually ranging from 14 days to 56 days.
- It is one of the tools used by the RBI to manage liquidity in the banking system and to influence short-term interest rates.
- The VRRR auction is conducted by the RBI on a regular basis to absorb excess ....
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