
RBI gets lower than expected response at VRRR auctions
New Delhi, July 12 (UNI) Reserve Bank of India or RBI, the country’s premier central bank, conducted a seven-day auction of Variable Rate Reverse Repo or VRRR. This auction is aimed at absorbing the surplus liquidity from the whole banking system. VRRR is an advanced monetary tool used by RBI policymakers to absorb the excess…