MONETARY POLICY

“…the primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth.”

Preamble to the Reserve Bank of India Act 1934

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Date : Feb 16, 2024

Result of the 7-day Variable Rate Repo (VRR) auction held on February 16, 2024

Tenor	7-day
Notified Amount (in ₹ crore)	75,000
Total amount of bids received (in ₹ crore)	1,36,986
Amount allotted (in ₹ crore)	75,007
Cut off Rate (%)	6.60
Weighted Average Rate (%)	6.64
Partial Allotment Percentage of bids received at cut off rate (%)	33.75