The RBI has said that it will carry out overnight repo variable rate auction for an amount of Rupees 50000 crore today i.e. 22 Dec 2014 between 4:00 PM and 4:30 PM. This auction will take place according to the revised guidelines that were issued on 13 Feb 2014 on the subject of Term Repo Auctions. Those who are successful will receive the amount as per their bid rates. Bidders bidding at or below the mentioned repo rate will be disqualified. Reversal of repo rate will be done on next day that is 23 December 2014.
About Sanjay Tandon
Sanjay Tandon is a graduate engineer from IIT Varanasi. He has been writing as a freelancer for many years. He loves to write on various niches. He is passionate about politics and economy and spends his free time watching news channels. He is also an expert on relationships.