The Reserve Bank of India (RBI) will conduct a 7-day repo variable rate auction for a notified amount of Rs 100 billion on Jul. 23, 2014.

The auction will be conducted as per the guidelines issued on Feb. 13, 2014. Successful bidders will get the allotment at their respective bids. The reversal of the 7 day term repo auction will take place on Jul. 30, 2014, the RBI said.