Bond yields drop 6 bps to 6.75% on RBI's daily VRR auction assurance

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Bond yields drop 6 bps to 6.75% on RBI's daily VRR auction assurance - Business Standard

Quick Summary:

In the first VRR auction conducted today since the announcement on Wednesday, the RBI received bids worth Rs 30,760 crore against a notified amount of Rs 50,000 crore.

On January 10, the RBI conducted a VRR auction worth Rs 2.25 trillion, which was oversubscribed.“As a result, banks did not have a requirement today.

Primary dealers emerged as the main participants, while banks showed limited participation, according to market participants.