Quick Summary
In a significant move to manage liquidity in the banking system, the Reserve Bank of India (RBI) has decided to conduct Variable Rate Repo (VRR) auctions on all working days in Mumbai. This measure will remain effective until further notice, with reversals scheduled for the next working day. For VRR auctions conducted on Fridays, reversals will take place on the following Monday or the next working day, if Monday is a holiday. Official copy of the notification is as follows On a review of cu
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FAQ :
The RBI will now conduct daily Variable Rate Repo (VRR) auctions on all working days in Mumbai.
The auctions will be conducted every working day between 10:00 AM and 10:30 AM.
The auction amount is decided by the Reserve Bank based on its assessment of current liquidity conditions and will be announced separately.
Standalone Primary Dealers and all other eligible participants can take part in these auctions.
The first such auction is scheduled for January 16, 2025, for an amount of ₹50,000 crore.
Reversals for VRR auctions conducted on a Friday will occur on the following Monday, or the next working day if Monday is a holiday.
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