RBI to infuse Rs 2.5 lakh crore through VRR to enhance liquidity in banking system
The Reserve Bank also said it will be conducting daily Variable Rate Repo (VRR) auctions on all working days in Mumbai, with reversal taking place on the next working day, until further notice.
RBI to infuse Rs 2.5 lakh crore through VRR to enhance liquidity in banking system
The Reserve Bank of India is going to inject Rs 2,50,000 crore through its Variable Rate Repo (VRR) auction on Wednesday to enhance liquidity in the banking system. The Central Bank has stated that the amount has been decided based on an assessment of the liquidity conditions.
The Reserve Bank also said it will be conducting daily Variable Rate Repo (VRR) auctions on all working days in Mumbai, with reversal taking place on the next working day, until further notice.
RBI Governor Sanjay Malhotra had announced on Friday, after the monetary policy meeting, that the central bank was committed to providing sufficient liquidity in the economy and would take steps to ensure durable liquidity to meet the requirements of the system. The RBI Governor also said that the RBI was keeping a close watch on the rupee and was taking all steps to keep the Indian currency stable.
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