RBI to conduct 7 day repo auction for Rs 300 billion on Aug 18

RBI to conduct 7 day repo auction for Rs 300 billion on Aug 18
18/08/2016 14:51

The Reserve Bank of India will conduct 7 day variable rate reverse repo auction for a notified amount of Rs 300 billion on August 18, 2016.
The auction will be conducted between 4.00 pm and 4.30 pm as per the revised guidelines on Term Repo Auctions issued on February 13, 2014, RBI said in a notification.
Successful offers will be accepted at their respective offered rates. Offers at or above the repo rate will be rejected.
The reversal of the 7 day variable rate reverse repo will take place on August 25, 2016.