RBI to restore normal liquidity operations in phased manner In view of the COVID-19 pandemic, the RBI had temporarily suspended the revised liquidity management framework. January 08, 2021 / 06:45 PM IST The Reserve Bank of India (RBI) on January 8 said it is restoring normal liquidity management operations in a phased manner on a review of the evolving liquidity conditions. “On a review of evolving liquidity and financial conditions, it has been decided to restore normal liquidity management operations in a phased manner,” the RBI said in a release. Accordingly, the RBI will conduct a Variable Rate Reverse Repo auction on January 15 for a notified amount of Rs 2,00,000 crore, it said.