India cbank sets 8.01 pct cut-off on 14-day term repo auction
MUMBAI Dec 13 (Reuters) - The Reserve Bank of India set a cut-off of 8.01 percent on the 485 billion rupees ($7.91 billion) 14-day variable rate term repo auction on Friday. The weighted average yield was 8.09 percent, the RBI said. The central bank received 766.25 billion rupees of bids at the 14-day term repo auction and allotted 485.06 billion rupees.
Partial allotment at the auction was at 70.37 percent on bids received at cut-off rate.
The 14-day term repo auction includes 100 billion rupees as additional liquidity support in a bid to offset tighter cash conditions due to advance tax payments, the RBI had said on Wednesday. (Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
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