Banks park Rs 87,870 cr in VRRR against notified amount of Rs 100,000 cr

Banks parked Rs 87,870 crore in the Reserve Bank of India’s variable rate reverse repo auction against the notified amount of Rs 100,000 crore at a weighted average rate of 6.49 per cent.

On Tuesday, VRRR auction saw tepid demand from banks, and they parked only Rs 67,295 crore against the notified amount of Rs 100,000 crore.