The Reserve Bank of India (RBI) absorbed Rs 42 billion via 1-day reverse repo auction held on Oct. 22, 2008. However, repo auction remained suspended for the day.

At the auction conducted under the liquidity adjustment facility, the central bank received 8 bids for the 1-day reverse repo auction which ware all accepted.

On the previous working day, i.e. Oct. 20, 2008, the Reserve Bank of India`s (RBIs) repo and reverse repo auction remained suspended under Liquidity Adjustment Facility (LAF).

The repos and reverse repos were traded at a fixed rate of 8% and 6% respectively.