Document title: Result of the 7‑day Variable Rate Reverse Repo (VRRR) auction held on September 01, 2026
Issuing authority: Reserve Bank of India (RBI), Department of Communication
Reference number: Press Release: 2026-2027/1009
Date: September 01, 2026
Policy rates and liquidity
The Reserve Bank of India conducted a 7‑day Variable Rate Reverse Repo auction on 1 September 2026. The notified amount for the auction was ₹6,00,000 crore. Participants submitted bids totaling ₹1,14,320 crore, and the RBI accepted the full ₹1,14,320 crore of offers. The cut‑off rate for the auction was set at 5.24 %, which also became the weighted average rate, indicating that all accepted bids were priced at this level. No partial acceptance of offers at the cut‑off rate was reported (indicated as N.A.).
Regulatory and policy measures
The auction result reflects the RBI’s ongoing monetary policy operations aimed at managing liquidity conditions in the banking system through the reverse repo mechanism.
The auction demonstrates the RBI’s capacity to absorb excess liquidity at a rate of 5.24 %, with full subscription of the bid amount, underscoring the effectiveness of the variable rate reverse repo facility as a tool for fine‑tuning short‑term market rates.