RBI's ₹50,000 Crore VRRR Sees Low Market Response
The Reserve Bank of India announced a ₹50,000 crore variable rate reverse repo (VRRR) operation after banking system liquidity hit nearly ₹2 lakh crore. Banks bid ₹23,905 crore, showing an imbalance in surplus funds. The weighted average call rate fell to 5.45% from 5.50%. Another ₹50,000 crore VRRR is planned for Wednesday.
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