Reserve Bank of India says total repo bids at 1.08 trillion rupees

MUMBAI: The Reserve Bank of India said on Friday it accepted all 31 bids for 497.65 billion rupees ($9.3 billion) at its three-day evening repo auction through which it injects cash into the banking system, taking the total repo bids to 1.08 trillion rupees.

Also, the RBI accepted all 5 bids for 10.95 billion rupees at its three-day reverse repo auction, through which it absorbs excess liquidity from the banking system.

Earlier in the day, it accepted all 34 bids for 584.60 billion rupees at its three-day morning repo auction through which it injects cash into the banking system.