RBI's Auction Snooze: Banks Prefer Overnight Parking

The Reserve Bank of India had a sleepy auction on Monday, with banks only parking ₹3.84 trillion of the ₹10 trillion available. Despite a liquidity flood of ₹5 trillion, cash is cozying up in just a few big banks. Everyone's nervous about long-term parking, preferring quick overnight stays. The RBI might need to stir the pot to keep things balanced.