BUSINESS

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

This is its fourth such operation

The Reserve Bank of India (RBI) on Monday said it has received Rs. 48,856 crore worth of bids in the fourth long-term reverse repo operation (LTROs) conducted for an amount of Rs. 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 Rs. 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 Rs. 25,021 crore with a pro-rata allotment percentage of 51.18%.

Last week, the apex bank received Rs. 1.719 lakh crore in the LTRO conducted for an amount of Rs. 25,000 crore with a three-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.

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

Recommended for you