RBI bid to drain surplus liquidity and improve rate transmission sees muted response
The Economic Times has reported a new India-focused economy development: “RBI bid to drain surplus liquidity and improve rate transmission sees muted response.” The publisher's feed describes the story as follows: Banks parked just Rs 79,655 crore in the central bank’s 29-day variable rate reverse repo (VRRR) auction, less than half the Rs 2 lakh crore absorption planned in the offer. Draining liquidity is considered crucial for quicker and effective transmission of increases in policy rates.
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