The Reserve Bank of India allotted ₹1.50007 trillion in a four-day repo auction Monday, slightly above its notified amount, as bids exceeded supply in the short-term liquidity operation.
Bids totaled ₹1.86666 trillion against the ₹1.5 trillion notified amount, according to the RBI's results. The allotment was ₹7 crore above the amount announced. The cutoff rate was 5.55%, and the weighted average rate was 5.59%.
The central bank reported a partial-allotment percentage of 85.07% for bids received at the cutoff rate.
The RBI's notice set Oct. 30 as the date for the operation to reverse. The central bank scheduled the auction after assessing near-term liquidity conditions, according to the notice, as described in EconoTimes' earlier coverage of the auction schedule.
