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RBI offers Rs 11,772 cr to banks through repo auction

Business Finance

Press Trust of India  |  Mumbai 

The Reserve Bank of India on Thursday offered Rs 11,772 crore to banks through a 12-day variable rate repo auction.

Before the auction, the RBI enhanced the amount of auction to Rs 50,000 crore from Rs 25,000 crore, announced earlier.

In the auction, the central bank received Rs 11,772 crore of bids and allocated the entire amount at a cut-off rate of 5.16 per cent.

RBI had advanced this auction to today from March 30 due to the evolving financial conditions and taking into account the impact of disruptions caused by COVID-19.

It will conduct another variable term repo auction of Rs 25,000 crore on March 31.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 26 2020. 21:16 IST