Finance
Potter HeadRBI Casts ₹50,000 Crore Auction Spell as Rates Soar High
In a dazzling display of wizardry, the Reserve Bank of India prepares to launch a ₹50,000 crore Variable Rate Repo auction this Tuesday, as the liquidity cauldron bubbles with a surplus of ₹2.2 trillion! With the WACR soaring to 5.31%, market wizards are spellbound by this enchanting event, ensuring the repo rate remains steady like a well-cast charm in the financial realm.
few days ago | Anjali Kumari
Quick rundown
1.RBI plans a ₹50,000 crore VRR auction to manage liquidity.
2.Net liquidity surplus in the banking system is ₹2.2 trillion.
3.WACR surged beyond the repo rate to 5.31% recently.
4.VRR auctions help banks borrow against government securities.
5.RBI uses repo operations to align WACR with the policy rate.
