POLL TABLE: 13-day term repo auction of Rs 150 bln seen 40-50% subscribed

  The Reserve Bank of India's 13-day term repo auction of Rs 150 billion seen 60-80% subscribed Tuesday due to surplus liquidity in the banking system because of increased government spending amid lower CBLO, dealers said.

 

  Below are the five banks, whose dealers were polled on Tuesday on their expectations of the cutoff rate for Reserve Bank of India's 13-day term repo auctions for Rs 150 billion today.

 

 

                                           Term Repo Auction Cutoffs

                                                 (In percent)

                                   ---------------Expectation---------------

Median                                              7.26%

Average                                             7.26%

Highest cut-off                                     7.26%

Lowest cut-off                                      7.26%

                                    

Organization                        ----------------Expectation--------------

 

Allahabad Bank                                      7.26%

Federal Bank                                        7.26%

HDFC Bank                                           7.26%

Punjab National Bank                                7.26%                                         

Syndicate Bank                                      7.26%