RBI absorbs ₹2.9 lakh crore to suck excess liquidity
On September 16, the Reserve Bank of India (RBI) absorbed nearly ₹2.9 lakh crore from the banking system via overnight Variable Rate Reverse Repo (VRRR) auctions. This operation aimed to manage the surplus liquidity, which has exceeded ₹9 lakh crore. The RBI's actions are part of ongoing efforts to stabilize the banking system's liquidity levels.