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( 06 Nov 2017)
RBI to conduct reverse repo auction worth Rs 350 bn today

The Reserve Bank of India said that it will conduct 7 day, 14 day and 28 day variable rate reverse repo auctions on November 06, 2017.

“The apex bank will conduct the variable rate reverse repo auctions as per the revised guidelines on Term Repo Auctions issued on February 13, 2014,” RBI said in a notification.

The bank will auction 7 day and 14 day variable rate reverse repo for Rs 150 billion and 100 billion will be conducted between 2.30 pm to 3.00 pm and 12.00 pm to 12.30 pm respectively.

However, 28 days variable rate reverse repo for Rs 100 billion will be conducted between 10.00 am to 10.30 am.

Successful offers will get accepted at their respective offered rates, while offers at or above the repo rate will be rejected, it added.