RBI receives Rs 27,096 cr bids in 5th LTRO conducted for Rs 25,000 cr

The Reserve Bank of India (RBI) on Wednesday said it has received Rs 27,096 crore worth of bids in the fifth long-term repo operations (LTROs) conducted for an amount of Rs 25,000 crore with a tenure of three years.

Earlier this week, the RBI had announced to conduct additional LTROs for up to a total amount of Rs 1 trillion at the policy repo rate after reviewing the current financial conditions and to further improving monetary transmission.

The central bank received 21 bids in Wednesday's LTRO which has a reversal date on March 17, 2023.

"The total bids received amounted to Rs 27,096 crore, implying a bid to cover ratio (i.e. the amount of bids received relative to the notified amount) of 1.1," it said in a release.

The RBI allotted an amount of Rs 25,012 crore, with a pro-rata allotment percentage to 92.27 per cent.

The central bank has already conducted four such operations of Rs 25,000 crore each since February 14 with huge success.