Document title: RBI to conduct 7‑day Variable Rate Reverse Repo (VRRR) auction under LAF on August 24, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026‑2027/946
Date: 21 August 2026
Policy rates and liquidity
The RBI, after reviewing current and evolving liquidity conditions, has decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Monday, 24 August 2026. The auction will make available a notified amount of ₹2,50,000 crore for a tenor of seven days. Bidding will be open for a 30‑minute window from 09:30 AM to 10:00 AM. The funds reversed from the auction are scheduled to be returned on Monday, 31 August 2026.
Regulatory and policy measures
The operational guidelines governing this VRRR auction will remain the same as those outlined in the Reserve Bank's Press Release 2019‑2020/1947 dated 13 February 2020. The announcement is issued under Press Release 2026‑2027/946 by Deputy General Manager Ajit Prasad (Communications).
The RBI’s use of a large‑scale VRRR operation underscores its ongoing effort to fine‑tune liquidity in the system, employing established guidelines without modification.