MUMBAI: The Reserve Bank of India said on Thursday it accepted all 10 bids for 15.98 billion rupees ($261.25 million) at its one-day reserve repo auction conducted on Wednesday through which it absorbs excess liquidity from the banking system.

On Wednesday, it also accepted all 44 bids for 294.15 billion rupees at its one-day repo auction through which it injects liquidity into the banking system.