 "reserve bank of india, rbi")
The Reserve Bank of India (RBI) will conduct a 14-day variable rate repo (VRR) auction on March 10 to inject up to 1 trillion rupees ($12.19 billion) into the banking system, it said in a release on Thursday.
This will be only the second VRR auction conducted by the RBI since February 2020. The previous VRR auction was conducted on Feb 10 for Rs 50,000 crore.
The liquidity deficit in the banking system had widened to over Rs 70,000 crore in February, with the daily average liquidity also slipping into deficit on a monthly basis for the first time since May 2019.
Although
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