RBI to conduct variable rate Term Repos of Rs1 lakh cr

As a pre-emptive measure to tide over any frictional liquidity requirements on account of dislocations due to COVID-19, the Reserve Bank of India has decided to conduct the following fine-tuning variable rate Repo auctions for Rs1 lakh cr in two tranches.

As a special case, Standalone Primary Dealers will be allowed to participate in these auctions along with other eligible participants. All other terms and conditions as applicable to term Repo auctions will remain the same, RBI said in the statement.

The Reserve Bank is monitoring the evolving financial market conditions. The Reserve Bank will calibrate its operations to meet any need for additional liquidity support, if warranted, to ensure normal functioning of markets, promote staff welfare and preserve financial stability.




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