The 3-day Variable Rate Repo (VRR) auction conducted on Friday with date of reversal on January 22, 2024 will now be reversed on January 23, 2024
FinTech BizNews Service
Mumbai, January 20, 2024: Government of Maharashtra has declared January 22, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. Accordingly, there will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on January 22, 2024 (Monday). Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday).
The 3-day Variable Rate Repo (VRR) auction conducted on Friday with date of reversal on January 22, 2024 (Monday) will now be reversed on January 23, 2024 (Tuesday). The 3-day VRR auction announced earlier on Friday vide RBI’s press release 2023-2024/1712, stands cancelled. Instead, a 2-day VRR auction will now be conducted on January 23, 2024 (Tuesday). On January 19, 2024 (Friday), an extra issue each of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) with reversal on January 23, 2024 (Tuesday) was being made available.
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo auction on January 23, 2024, Tuesday, as under:
Sl. No. | Notified Amount | Tenor (day) | Window Timing | Date of Reversal |
1 | 1,25,000 | 2 | 10:30 AM to 11:00 AM | January 25, 2024 |
