India, March 24 -- The Reserve Bank of India (RBI) on Tuesday infused Rs 55,837 crore into the banking system through a three-day variable rate repo (VRR) auction to address short-term liquidity needs.
The funds were injected at a cut-off and weighted average rate of 5.26 per cent, according to the central bank.
Despite a decline in surplus liquidity in the system due to advance tax outflows, the amount infused was significantly lower than the notified Rs 1 lakh crore, indicating relatively measured demand from banks.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....