The Reserve Bank of India on Thursday announced its decision to pull out ₹25,000 crore of liquidity from the banking system through the variable reverse repo rate (VRRR) auction. On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on November 29, 2024, Friday, RBI stated. VRRR is the rate at which the RBI borrows from banks for a variable period through an auction process.
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