Hard bargaining at RBI OMO lifts yields

The RBI also conducted an overnight variable rate repo (VRR) auction for ₹2.75 lakh crore, where RBI received bids for ₹2.35 lakh crore. System liquidity stood at a deficit of ₹2.07 lakh crore on Wednesday, and has been in a daily average deficit of ₹1.28 lakh crore in February.

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