The Reserve Bank of India will conduct a nine-day variable rate reverse repo auction for a notified amount of Rs.30,000 crores today.
As per an RBI press release, the auction will be conducted between 4 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 nine-day variable rate reverse repo will take place on July 16.
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