RBI VRRR Auction 12Nov 2026: 5.49% Cutoff

Document title: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on November 12, 2026

Issuing authority: Reserve Bank of India (RBI)

Reference number: Press Release 2026-2027/1484

Date: 12 November 2026

Policy rates and liquidity

The RBI conducted an overnight Variable Rate Reverse Repo (VRRR) auction on 12 November 2026. The notified amount for the auction was ₹50,000 crore. Offers received totaled ₹58,149 crore, exceeding the notified amount. The amount accepted was ₹50,012 crore. The cut‑off rate for the auction was 5.49%, while the weighted average rate achieved was 5.47%. Partial acceptance of offers at the cut‑off rate stood at 59.56%, indicating that just under 60 % of the bids were fully met.

The auction results show that the RBI’s overnight VRRR operation absorbed liquidity at a cut‑off rate of 5.49%, with a weighted average of 5.47%, reflecting current market conditions and the central bank’s stance on short‑term liquidity management.