Mumbai, Aug. 6 -- The Reserve Bank of India (RBI) absorbed Rs 67,755 crore through a 2-day Variable Rate Reverse Repo (VRRR) auction conducted on August 6, against a notified amount of Rs 1 lakh crore. The cut-off rate stood at 5.49%, while the weighted average rate was slightly lower at 5.48%.

This short-term liquidity absorption operation is part of the central bank's ongoing efforts to rein in surplus liquidity from the banking system. The total amount of bids received matched the amount accepted at Rs 67,755 crore.

The auction follows a series of liquidity-draining operations by the RBI over the past month. On August 1, the central bank had absorbed Rs 1,71,795 crore via a 7-day VRRR, also at a cut-off rate of 5.49%. In July, the RB...