RBI to Conduct 5-day Variable Rate Repo Auction on March 24

Current Context: The Reserve Bank of India (RBI) will conduct a 5-day Variable Rate Repo auction worthof Rs 75,000 crore on March 23.

• The Reserve Bank of India for the fortnight beginning March 24, 2023 has decided to conduct a 5-day Variable Rate Repo (VRR) auction.
• The main operation is a 14-day variable rate Repo/ Reverse Repo auction.
• The auction will take place on March 24 and the reversal of funds will take place on March 29.
• When the banking system turns negative or is in deficit, the variable rate repo auction is done to do the liquidity in the system.
• Liquidity in the banking system is in deficit of around Rs 76,513crore in the recent years.

Question: 

Q.1 The Reserve Bank of India (RBI) will conduct a 5-day Variable Rate Repo auction worthof Rs _________ on March 23.
a. 78000 crores
b. 76000 crores
c. 70000 crores
d. 75000 crores