RBI gets Rs 23,070 cr for June 16 through repo/reverse repo auction

Mumbai, June 16 (UNI) The Reserve Bank of India(RBI) today received Rs 23,070 crore through 24 bids made for reverse repo auction.

Announcing this, RBI's press release said its auction on repo/three day reverse repo auction held on June 16, 2006 under the liquidity adjustment facility received 24 bids made for reverse repo which means sale of securities by RBI. All the bids received were accepted at the fixed rate of 5.75 per cent.

The no bids were received for RBI repo at the fixed rate of 6.75 per cent, it added.

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