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More VRRRs likely as banking system liquidity surplus hits ₹3.13 trn
New Delhi
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Despite the Reserve Bank of India's (RBI's) recent Variable Rate Reverse Repo (VRRR) auction, net liquidity in the banking system stood at a surplus of Rs 3.13 trillion on Tuesday—the highest since June 13—according to the latest RBI data. The surplus liquidity has kept the overnight weighted average call rate near the Standing Deposit Facility (SDF) rate of 5.25 per cent and below the repo rate of 5.50 per cent. On Wednesday, the weighted average call rate eased further to 5.27 per cent from 5.31 per cent the previous day.
Market participants said the central bank is expected to roll
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