RBI to conduct 14-day variable rate reverse repo today: Check details

The central bank of India will conduct a 14-day variable rate reverse repo auction from 10.30 am to 11 am on Friday. Reserve Bank of India Governor Shaktikanta Das speaks during a press conference after the 600th meeting of the Central Board of RBI, in New Delhi on February 11. A reverse repo is a fixed or variable interest rate at which banks lend to RBI. 5) RBI will, however, reserve the right to absorb marginally higher amount than the notified amount due to rounding effects and absorb less than the notified amount without assigning any reasons therefore.