Overnight call rate surges to 21-month high prompting RBI to act

The shortfall prompted the Reserve Bank of India to announce an immediate borrowing window for Rs50,000 crore. The central bank’s move has underscored its commitment to ensuring liquidity needs even as it unwinds excess cash through Variable Reverse Repo Rate (VRRR) auctions amid the diminishing threat of coronavirus infections.

from Banking/Finance-Industry-Economic Times https://ift.tt/3GPdl7o