The Reserve Bank will conduct a 14-day term repo variable rate auction for a notified amount of Rs 610 billion on Jul. 11, 2014.

The auction will be conducted as per the revised guidelines issued on Feb. 13, 2014. Successful bidders will get the allotment at their respective bids.

The reversal of the 14-day term repo will take place on Jul. 11, 2014, the RBI said.