RBI launches overnight cash withdrawal after technical glitch at 30-day auction
India’s central bank said it will run an overnight variable rate reverse repo (VRRR) for 5 trillion rupees after technical glitches at a longer-term auction depressed participation, according to five traders.
The Reserve Bank of India announced another cash withdrawal operation on Monday after technical glitches at a longer-term auction depressed participation, five traders said. The central bank will conduct an overnight variable rate reverse repo (VRRR) for 5 trillion rupees.