Reserve Bank of India injects Rs 75,000 crore before GST, advance tax payments

#RBI on Friday infused Rs 75,000 crore into the banking system through Variable Rate Repo #VRR auction, aiming to provide funds to the banks ahead of advance tax and Goods and Services Tax #GST payments which will drain out liquidity from the system.

Advance tax and GST payments are expected to drain out nearly Rs 2.5 trillion from the banking system.