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VRRR bids trigger ₹2 trn SDF outflows
Business Standard
|July 14, 2025
₹1.2 trillion in SDF window lowest since April 21
The amount parked by banks in the Reserve Bank of India's (RBI's) standing deposit facility (SDF) window declined to ₹1.2 trillion from ₹3.26 trillion at the start of the month, following variable rate reverse repo (VRRR) auctions, market participants said.
The SDF amount on July 10 was the lowest since April 21 of the current year, latest RBI data showed.
"Banks are parking their funds in VRRR; that is why there is a decrease in the SDF amount," said a money market dealer at a state-owned bank. "The overnight rates have also moved up, with the tri-party repo rate now trading above the SDF rate and the call rate near the repo rate, making it a better option to park overnight funds," he added.
This story is from the July 14, 2025 edition of Business Standard.
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