Policy rates and liquidity
The RBI conducted the second 2‑day Variable Rate Repo auction on June 17, 2026. The auction notified a total amount of ₹50,000 crore. Bids received amounted to ₹22,284 crore, and the entire bid volume was allotted, resulting in an amount allotted of ₹22,284 crore. The cut‑off rate for the auction was 5.26 %, which also equated to the weighted average rate of 5.26 %. No partial allotment percentage was reported, indicating that all bids were satisfied at the cut‑off rate.
The auction outcome reflects the RBI’s liquidity absorption operation at the stated rate, aligning with its monetary policy stance.
The press release was issued by Deputy General Manager Ajit Prasad of the RBI’s Department of Communication.
This auction result underscores the RBI’s ongoing use of variable‑rate repo mechanisms to manage short‑term liquidity conditions in the banking system.