RBI gets ₹48,856 cr. in bids for LTROs

This is its fourth such operation

March 09, 2020 10:27 pm | Updated 10:27 pm IST - MUMBAI

The Reserve Bank of India (RBI) on Monday said it has received ₹48,856 crore worth of bids in the fourth long-term reverse repo operation (LTROs) conducted for an amount of ₹25,000 crore with a three-year tenor.

The RBI received 37 bids in the LTRO with a reversal date on March 7, 2023.

“The total bids that were received amounted to ₹48,856 crore, implying a bid-to-cover ratio (i.e., the amount of bids received relative to the notified amount) of 2,” the RBI said in a release. The RBI allotted an amount of ₹25,021 crore with a pro-rata allotment percentage of 51.18%.

Last week, the apex bank received ₹1.719 lakh crore in the LTRO conducted for an amount of ₹25,000 crore with a three-year tenor. The RBI conducted two LTROs with three-year and one-year tenors for ₹25,000 crore each on February 17 and February 24, respectively.

It will also conduct LTROs of ₹25,000 crore each on March 30 and March 31.

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