RBI Drains ₹3.93 Lakh Crore, Here's What Surplus Cash Means For Loans And Deposits
Mumbai: The Reserve Bank of India (RBI) absorbed Rs 3.93 lakh crore from the banking system through a variable rate reverse repo (VRRR) auction, as surplus liquidity remained high. The central bank received bids worth Rs 3,93,352 crore against the notified amount of Rs 5 lakh crore. It accepted all bids at a cut-off and weighted average rate of 5.24 percent. Why RBI Is Draining Funds? Banking…
We haven't written up this one. Free Press Journal has the full story — the link below goes straight to it.
