On an assessment of the evolving liquidity conditions, the Reserve Bank of India has decided to conduct a 4-day term reverse repo variable rate auction for a notified amount of Rs. 15,000 crore on June 2, 2014 (Monday), with a greenshoe option to accept offers up to an additional amount of Rs. 10,000 crore above the notified amount. The auction will be conducted on the CBS (E-KUBER) platform through electronic bidding as per the revised guidelines issued on February 13, 2014 in respect of term repo auctions. Successful offers will get allotments at respective offered rates. Offers above the repo rate will be rejected. The reversal of the 4-day reverse repo will take place on June 6, 2014 (Friday).
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