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RBI absorbs Rs 2.23 lakh crore via VRRR auction amid surplus liquidity
The Reserve Bank of India (RBI) on Friday said that it absorbed Rs 2.23 lakh crore from the banking system through a Variable Rate Reverse Repo (VRRR) auction as part of its ongoing efforts to manage surplus liquidity and align short-term money market rates with the policy repo rate.According to an official release, the central bank received bids worth Rs 2,22,629 crore against the notified amount of Rs 2.25 lakh crore and accepted all the bids. The funds were absorbed at a weighted average rate
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