RBI Auctions Shorter-dated Repos, Easing Market Worries

Mumbai: The Reserve Bank of India (RBI) injected Rs 4,650 crore ($760 million) into money markets on Monday through its first-ever overnight variable rate repo, raising hopes such short-term cash offers would become more regular. RBI Governor Raghuram Rajan said last week that the apex bank would consider issuing more frequent and shorter-dated repos, or cash-for-loans transactions. The RBI began 7- and 14-day term repos in O...