RBI receives 12,850 cr bids for TLTRO 2.0 against Rs 25,000 cr offered by central bank

Mumbai: The Reserve Bank of India (RBI) on Thursday received Rs 12,850 crore worth of bids for the first targeted long term repo operations (TLTRO 2.0) conducted for an amount of Rs 25,000 crore with a three-year tenor.In today's auction, RBI received 14 bids, a release said."The total bids that were received amounted to Rs 12,850 crore, implying a bid to cover ratio (i.e, the amount of bids received relative to the notified amount) of 0.5," the central bank said.RBI further said it will review the auction results and take a view on the matter.On 17 April, RBI had announced to conduct Rs 50,000 crore TLTRO 2.0 in tranches, aimed at providing liquidity support to non-banking financial companies (NBFCs) and microfinance lenders (MFIs) that have been affected by COVID-19 related disruptions.