The Reserve Bank of India allotted ₹50,007 crore in a one-day variable rate repo auction Wednesday, slightly above its offer, as bids reached nearly twice the notified amount.
The RBI’s Oct. 21 result listed ₹93,241 crore in bids against the ₹50,000 crore notified amount. The allotted sum was ₹7 crore above the offer, while total bids were about 1.86 times the notified amount.
The central bank reported a cutoff rate of 5.52% and a weighted average rate of 5.52%. Its partial-allotment percentage for bids received at the cutoff rate was 87.99%.
