RBI Absorbs ₹2 Lakh Crore via 7-Day VRRR Auction
The RBI absorbed ₹2 lakh crore through a 7-day VRRR auction, accepting bids at a 5.24% cut-off rate against total bids of ₹2,28,098 crore. The oversubscription signals persistent banking system surplus, prompting the central bank to sterilize short-term liquidity and defend its interest rate corridor.