RBI's 30-day VRRR operation sees muted response amid high banking liquidity surplus
https://economictimes.indiatimes.com/markets/forex/forex-news/rbis-30-day-vrrr-operation-sees-muted-response-amid-high-banking-liquidity-surplus/articleshow/133904218.cms
Banks showed little interest in the Reserve Bank of India's 30-day reverse repo operation. This occurred even as banking system liquidity reached a near five-year high. Treasury heads avoided locking funds at the current interest rate. Many expected a future rate hike, seeking better returns. The Reserve Bank will conduct an overnight auction to manage liquidity.
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