RBI steps up liquidity absorption with ₹7 trillion, 30-day reverse repo auction

India’s banking system is awash with a record 10.5 trillion rupees of excess cash, according to a Bloomberg Economics index, after the central bank exchanged dollars raised by banks from overseas Indians for rupees.

source https://www.livemint.com/industry/banking/rbi-steps-up-liquidity-absorption-with-rs-7-trillion-30-day-reverse-repo-auction-11788544510985.html