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Reserve Bank of India juggles liquidity ops under revised framework

Conducts special variable rate repo operation to ease tight liquidity situation

RBI
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Reserve Bank of India

Anup Roy Mumbai
The Reserve Bank of India (RBI) on Friday once again conducted a special variable rate repo operation to ease the tight liquidity in the system caused by the larger-than-expected goods and services tax (GST) collection. The central bank offered Rs 75,000 crore to banks, against which they submitted bid worth Rs 1.22 trillion. The cut-off was 4.09 per cent, above the repo rate of 4 per cent. Weighted average call money rates in the interbank market pushed up to a near two-year high of 4.44 per cent.

Observers say this is temporary and is in sync with the revised liquidity

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