The Reserve Bank of India on Friday said the reverse repo auction window for banks to deploy surplus funds with it will be open between 7.00 p.m. and 7.30 p.m. instead of the existing timings of 4.45 p.m. to 5.15 p.m with effect from January 20.
The revision in timing is based on feedback the central bank received from the market participants. Banks earn 6.75 per cent interest per annum when they deploy short-term surplus funds with the RBI.