The Reserve Bank of India (RBI) has received Rs 48,856 crore of bids in the fourth long-term reverse repo operation (LTROs) conducted for an amount of Rs 25,000 crore with a 3-year tenor. The RBI received 37 bids in the LTRO with a reversal date on March 7, 2023.
The RBI allotted an amount of Rs 25,021 crore, with a pro-rata allotment percentage to 51.18 per cent. The RBI, last week, received Rs 1.719 lakh crore in the LTRO conducted for an amount of Rs 25,000 crore with a 3-year tenor. The RBI conducted two LTROs with three-year and one-year tenors for Rs 25,000 crore each on February 17 and February 24, respectively.
Moreover, the RBI is also conducting two-term repo auctions for shorter tenors to address any additional demand for liquidity, and to provide flexibility to the banking system in its liquidity management towards the year-end. It will also conduct LTROs of Rs 25,000 crore each on March 30 and March 31.