Document title: Result of the Overnight Variable Rate Repo (VRR) auction held on October 21, 2026
Issuing authority: Reserve Bank of India (RBI) – Department of Communication, Central Office, Shahid Bhagat Singh Marg, Mumbai
Reference number: Press Release 2026-2027/1357
Date: October 21, 2026
Policy Rates and Liquidity
The RBI announced that the overnight variable rate repo auction on 21 October 2026 had a cut‑off rate of 5.52 per cent. The weighted average rate across all successful bids was also 5.52 per cent, indicating a uniform pricing outcome for the auctioned liquidity.
Banking and Credit
The auction was launched with a notified amount of ₹50,000 crore. Bidders submitted total bids amounting to ₹93,241 crore, reflecting strong demand for short‑term liquidity. The RBI allotted ₹50,007 crore, slightly exceeding the notified amount, and the partial allotment percentage of bids received at the cut‑off rate was 87.99 per cent. This demonstrates that a substantial majority of the bid volume was satisfied at the determined rate.
Regulatory and Policy Measures
The results were communicated through Press Release 2026-2027/1357, issued by Deputy General Manager Ajit Prasad of the Communications division. No additional regulatory actions or policy changes were disclosed in the release.
The auction outcome underscores the RBI’s ongoing effort to manage overnight liquidity through the variable rate repo mechanism, with the cut‑off rate remaining at 5.52 per cent and a high proportion of bids successfully allocated.