The Reserve Bank of India will conduct overnight variable rate reverse repo auction for a notified amount of Rs 20,000 crore today.
The auction will be conducted between 4.00 p.m. and 4.30 p.m. as per the revised guidelines on Term Repo Auctions issued on February 13, 2014.
Successful offers will get the allotment at their respective offered rates. Offers at or above the repo rate will be rejected. The reversal of the overnight variable rate reverse repo will take place on July 7.