RBI's VRR Auction: Big Banks Pass, Demand Takes a Dive!

Ladies and gentlemen, The Rock is here to drop the truth bomb on the RBI's VRR auction! On Tuesday, demand was as flat as a pancake, with big banks sitting this one out. Why? They're swimming in liquidity and scoring better returns elsewhere! With bids only hitting Rs 48,014 crore against a colossal Rs 1.5 trillion, it’s clear: the banks are playing it smart. Can you smell what the RBI is cooking?

Quick rundown

RBI's VRR auction saw low demand due to surplus liquidity.
Large banks opted for better returns in the tri-party repo market.
Auction cut-off rate was set at 5.26%, with bids below the target.
Net liquidity surplus in the banking system was Rs 75,483 crore.
Weighted average call rate slightly decreased to 5.27%.

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