The Reserve Bank of India will conduct the following Variable Rate Reverse Repo auction on May 16, 2018, Wednesday, as per the revised guidelines on Term Repo Auctions issued on February 13, 2014.
2. Successful offers will get accepted at their respective offered rates.
3. Offers at or above the repo rate will be rejected.
Press Release : 2017-2018/2999
Source: RBI Press Releases