RBI Announces ₹75,000 Cr Overnight VRRR Auction

Document title: RBI to conduct Overnight Variable Rate Reverse Repo (VRRR) auction under LAF on September 23, 2026

Issuing authority: Reserve Bank of India

Reference number: Press Release 2026-2027/1168

Date: 22 September 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 23 September 2026. The auction will offer a notified amount of ₹75,000 crore for a one‑day tenor. Bidding will be open from 09:30 AM to 10:00 AM, and the reverse repo operation will be reversed on 24 September 2026.

Regulatory and policy measures

The operational guidelines for this auction will remain the same as those outlined in the RBI Press Release 2019‑2020/1947 dated 13 February 2020. The announcement is issued by Deputy General Manager Ajit Prasad (Communications).

The RBI’s use of the VRRR mechanism under the Liquidity Adjustment Facility reflects its ongoing effort to fine‑tune overnight liquidity conditions in the banking system.