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RBI Drains ₹3.93 Lakh Crore, Here's What Surplus Cash Means For Loans And Deposits

RBI Drains ₹3.93 Lakh Crore, Here's What Surplus Cash Means For Loans And Deposits
Photo: Free Press Journal · view original

Mumbai: The Reserve Bank of India (RBI) absorbed Rs 3.93 lakh crore from the banking system through a variable rate reverse repo (VRRR) auction, as surplus liquidity remained high. The central bank received bids worth Rs 3,93,352 crore against the notified amount of Rs 5 lakh crore. It accepted a...

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