 "RBI to discontinue daily variable rate repo auctions from June 11")
India's central bank said on Monday it will discontinue conducting daily variable rate repo (VRR) auctions, which inject liquidity into the banking system, from June 11.
Liquidity in the country's banking system stood at a surplus of 2.45 trillion rupees as of June 8, data from the Reserve Bank of India (RBI) showed.
The RBI started conducting daily VRR auctions on every working day from January 16, when banks were grappling with tight liquidity conditions.
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