 "banks")
The Reserve Bank of India (RBI) has received bids for only about half the Rs 25,000 crore it offered under its revised Targeted Long Term Repo Operations (TLTRO), indicating that banks are reluctant to lend to non-banking financial companies (NBFCs).
Banks put in 14 bids worth Rs 12,850 crore for the three-year money offered. In a similar auction on April 9, 18 bids were received for Rs 1.14 trillion as against the Rs 25,000 crore on offer. In the first version of the TLTRO, there were no conditions attached, except that the money had to be deployed within 30 days.
