RBI's cash splash: ₹84,582 crore boost for banks!

On Monday, the Reserve Bank of India decided to sprinkle some cash magic, injecting ₹84,582 crore into the banking system! They kicked things off with a ₹50,001 crore boost at a rate of 5.34%, then followed up with ₹34,581 crore at 5.26%. While the first auction had a bidding frenzy, the second one was a bit of a snooze. Now, banks are sitting pretty with a surplus of ₹1.27 lakh crore!