The study looked at how the Repo market helps banks manage their money in India. When there's not enough money in the market, interest rates can go up. The study found that the activity in the Repo market and overall money market affects the difference between Call and Repo rates. They used a special model to see if the spread changes when there's too much or too little money in the system. The results showed that the way monetary policy works stays the same, whether there's too much or too little money in the system.