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Muted response to ₹1 L-cr VRRR auction
Financial Express Lucknow
|July 16, 2025
Operating target of monetary policy is call money rate, says RBI governor
The three-day variable rate reverse repo (VRRR) auction, conducted by the Reserve Bank on Tuesday for an amount of ₹1 lakh crore, saw a tepid response, with bids coming in for ₹57,450 crore. The central bank accepted all the bids at a cut-off rate of 5.49%.
The lower-than-anticipated response was attributed partly to the slightly lower liquidity surplus in the system. Liquidity in the banking system came down to ₹2.61 lakh crore on Monday, from ₹2.94 lakh crore on Sunday. It stood at ₹4.25 lakh crore on July 4.
This story is from the July 16, 2025 edition of Financial Express Lucknow.
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