Three-year tenor repo issue attracts 66 bids
MUMBAI: The Reserve Bank of India (RBI) said it received Rs1.71 trillion worth of bids in the third long-term repo operation (LTRO) conducted on Monday for an amount of Rs25,000 crore.
RBI said it received 66 bids in the three-year tenor LTRO, which has fixed the reversal date on March 1, 2023.
“The total bids that were received amounted to Rs1,71,965 crore, implying a bid to cover ratio (i e., the amount of bids received relative to the notified amount) of 6.9 times,” the RBI said in its official release.
This ratio works out an allotment of Rs25,028 crore, with a pro-rata allotment at the rate of 14.54 per cent. The next three-year tenor LTRO has been scheduled on March 9, 2020 by RBI for the same amount of Rs25,000 crore.
This is the third LTRO in the series by RBI so far with the earlier two LTROs for Rs25,000 crore each having been conducted on February 17 and February 24.
