In the last few days, overnight rates have been trading above the RBI's repo rate due to strain on the liquidity surplus, prompting the central bank's intervention to infuse transient liquidity in the banking system.
The Reserve Bank of India has injected Rs 72,300 crore into the banking system through Variable Rate Repo (VRR) auctions. This intervention was prompted by a narrowing liquidity surplus and overnight rates trading above the RBI's repo rate. The central bank's action aims to ease…
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