Latest Variable Rate Reverse Repo News & Updates

RBI Conducts Rs 2 Lakh Crore Variable Rate Reverse Repo Auction

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Mumbai, April 10 (IANS) The Reserve Bank of India announced on Friday that it is carrying out a Variable Rate Reverse Repo (VRRR) auction worth Rs 2 lakh crore with a 7-day tenor to absorb excess, durable liquidity from the banking system. The date of reversal is April 17.The VRRR is used to absorb excess liquidity when the system has a surplus, which helps maintain interest rates within the RBI’s prescribed corridor.This move follows the RBI’s revised liquidity management framework, which prior…