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RBI gets bids worth Rs 48,856 cr for Rs 25,000 cr LTRO with 3-year tenor

The RBI allotted an amount of Rs 25,021 crore, with a pro-rata allotment percentage to 51.18 per cent

Press Trust of India  |  Mumbai 

RBI
The RBI received 37 bids in the LTRO with a reversal date on March 7, 2023 | File photo

The Reserve Bank of India on Monday said it has received Rs 48,856 crore of bids in the fourth long-term reverse repo operation (LTROs) conducted for an amount of Rs 25,000 crore with a 3-year tenor.

The RBI received 37 bids in the LTRO with a reversal date on March 7, 2023.

"The total bids that were received amounted to Rs 48,856 crore, implying a bid to cover ratio (i.e., the amount of bids received relative to the notified amount) of 2," RBI said in a release.

The RBI allotted an amount of Rs 25,021 crore, with a pro-rata allotment percentage to 51.18 per cent.

Last week, the apex bank received Rs 1.719 lakh crore in the LTRO conducted for an amount of Rs 25,000 crore with a 3-year tenor.

The RBI conducted two LTROs with three-year and one-year tenors for Rs 25,000 crore each on February 17 and February 24, respectively.

Additionally, the central bank is also conducting two-term repo auctions for shorter tenors to address any additional demand for liquidity, and to provide flexibility to the banking system in its liquidity management towards the year-end.

It will also conduct LTROs of Rs 25,000 crore each on March 30 and March 31.

First Published: Mon, March 09 2020. 17:34 IST
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