Document title: RBI to conduct Overnight Variable Rate Repo (VRR) auction under LAF on July 29, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/773
Date: July 28, 2026
Policy Rates and Liquidity
The Reserve Bank of India, after reviewing current and evolving liquidity conditions, has decided to conduct a Variable Rate Repo (VRR) auction on Wednesday, July 29, 2026. The auction will offer a notified amount of ₹50,000 crore for a one‑day tenor. Bidding will be open from 09:30 AM to 10:00 AM on the auction day, and the repo will be reversed on Thursday, July 30, 2026.
Regulatory and Policy Measures
The operational guidelines for this VRR auction will be the same as those outlined in the RBI press release 2021-2022/1572 dated January 20, 2022. The announcement is issued under Press Release 2026-2027/773 by Deputy General Manager Ajit Prasad (Communications).
The RBI’s use of the VRR mechanism under the Liquidity Adjustment Facility reflects its ongoing effort to fine‑tune short‑term liquidity in the banking system.