The Reserve Bank of India (RBI) injected Rs 5.5 billion via 1-day repo auction held on Nov. 3, 2008. However, reverse repo auction remained suspended for the day.

At the auction conducted under the liquidity adjustment facility, the central bank received 2 bids for the 1-day repo auction which were all accepted.

On the previous working day, i.e. Oct. 31, 2008, RBI injected Rs 417.45 billion from the 3-days repo auction via 42 bids. However, reverse repo auction remained suspended for the day.

The repos and reverse repos were traded at a fixed rate of 8% and 6% respectively up to October 31.

However, from November 3, the repo rate changed to 7.5% from the previous level of 8%. While, reverse repo kept unchanged at 6%.