RBI to conduct Variable Rate Reverse Repo auction for notified amount of Rs 2 lakh crore

Reserve Bank of India has announced that it will conduct a Variable Rate Reverse Repo auction on 15th of this month for a notified amount of two lakh crore rupees. In a statement, RBI today said the decision to restore normal liquidity management operations in a phased manner has been taken after a review of the evolving liquidity and financial conditions.

“As stated in the last MPC (Monetary Policy Committee) statement on December 4, 2020, it is reiterated that the Reserve Bank will ensure availability of ample liquidity in the system,” the central bank added.

In view of operational dislocations and elevated level of health risks posed by COVID-19, RBI had also decided to truncate trading hours for various market segments with effect from April 07, 2020.