RBI to Conduct ₹1.5 Lakh Crore VRR Auction

The Reserve Bank of India (RBI) is like the bank for all other banks in the country.

To help banks have enough money, it holds auctions.

This week, the RBI is holding an auction where it will offer money to banks.

The auction is for ₹1.5 lakh crore and will last for one day.

Banks can borrow money from the RBI for a short time.

This is done to help make sure there is enough money available for banks to lend out to people and businesses.

Recently, a similar auction saw very little demand from banks, as they preferred cheaper options.