RBI | VRRR Auction
RBI to conduct another 3-day VRRR auction for Rs 2 lakh crore
Mumbai/IBNS: Reserve Bank of India will conduct another three day Variable Rate Reverse Repo (VRRR) auction next week in order to draw out up to Rs 2,00,000 crore.
The RBI Governor had earlier hinted at removing excess cash available in the banks through auctions.
On December 20, in a similar auction, in a surprise move the Central bank removed Rs 81,160 crore liquidity from the system.
Apart from this, the Reserve Bank has been conducting 4 day and 7 day auctions.
In the December bi monthly policy, RBI Governor Shaktikanta Das had stressed on auction root as an important move to remove cash from the system.
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