Policy rates and liquidity
The Reserve Bank of India, after reviewing current and evolving liquidity conditions, has announced a Variable Rate Reverse Repo (VRRR) auction to be conducted on Friday, September 18, 2026. The auction will involve a notified amount of ₹2,25,000 crore and will have a tenor of three days. Participants may submit bids between 09:30 AM and 10:00 AM on the auction day. The reverse repo operations will be reversed on Monday, September 21, 2026.
Regulatory and policy measures
The operational guidelines governing this VRRR auction will remain unchanged and continue to follow the framework set out in the Reserve Bank's Press Release dated February 13, 2020 (Release 2019‑2020/1947). The announcement is issued as Press Release 2026‑2027/1139 by Deputy General Manager Ajit Prasad, Communications, of the RBI.
The RBI’s decision to inject ₹2.25 lakh crore of liquidity through the VRRR mechanism reflects its ongoing stance to manage short‑term liquidity conditions in the banking system.