The Reserve Bank of India (RBI) on Wednesday said it has received Rs 27,096 crore worth of bids in the fifth long-term repo operations (LTROs) conducted for an amount of Rs 25,000 crore with a tenure of three years.
Earlier this week, the RBI had announced to conduct additional LTROs for up to a total amount of Rs 1 trillion at the policy repo rate after reviewing the current financial conditions and to further improving monetary transmission.
The central bank received 21 bids in Wednesday's LTRO which has a reversal date on March 17, 2023.
"The total bids received amounted to Rs 27,096 crore, implying a bid to cover ratio (i.e. the amount of bids received relative to the notified amount) of 1.1," it said in a release.
The RBI allotted an amount of Rs 25,012 crore, with a pro-rata allotment percentage to 92.27 per cent.
The central bank has already conducted four such operations of Rs 25,000 crore each since February 14 with huge success.