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RBI to conduct Variable Rate Reverse Repo Auctions today

Mumbai [India]: The Reserve Bank of India (RBI) will conduct 7 day, 14 day and 28 day variable rate reverse repo auctions under LAF on Thursday.

According to an RBI press release issued this week, the central bank will conduct the variable rate reverse repo auctions as per the revised guidelines on term repo auctions issued on February 13, 2014.

Day Notified Amt. Tenor Window Timing Date of Reversal

1 250 28 10.00 am to 10.30 am June 8, 2017 (Thursday)

2 400 14 12.00 pm to 12.30 pm May 25, 2017 (Thursday)

3 450 7 2.00 pm to 2.30 pm May 18, 2017 (Thursday)

2. Successful offers will get accepted at their respective offered rates.

3. Offers at or above the repo rate will be rejected. (ANI)