MUMBAI, Aug 11 (Reuters) - The Reserve Bank of India set a cut-off of 8.01 percent at the overnight variable rate term repo auction on Monday.
The weighted average rate was 8.09 percent, the RBI said.
The central bank alloted 46.50 billion rupees ($760.30 million) worth of bids at the overnight term repo auction as against 50 billion rupees notified.
The RBI said it received bids worth 54 billion rupees for the auction.
1 US dollar = 61.1600 Indian rupee Reporting by Neha Dasgupta; Editing by Sunil Nair