The Reserve Bank of India has decided to conduct the variable rate Repo auctions as a preventive measure to bridge over any frictional liquidity requirements caused by COVID-19. As per the circular, the Reserve Bank of India will conduct fine-tuning variable rate Repo auctions for Rs 1,00,000 crores in two tranches.
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The central bank has also decided to allow standalone Primary Dealers to participate in fine-tuning variable rate Repo auctions along with other eligible participants. All other terms and conditions which are applicable to term Repo auctions will remain the same.
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