India, April 17 -- The Reserve Bank of India (RBI) withdrew Rs 2,00,031 crore of surplus liquidity from the banking system through a seven-day variable rate reverse repo (VRRR) auction on Friday.
The auction saw strong participation, with bids worth Rs 2,28,098 crore received against the notified amount of Rs 2 lakh crore.
The central bank accepted bids at a cut-off rate of 5.24%, with the weighted average rate at 5.23%.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....