RBI Accepts ₹98,516 Crore in 2-Day VRRR at 5.24% on August 25
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The Reserve Bank of India has accepted ₹98,516 crore in its two-day Variable Rate Reverse Repo auction held on August 25, 2026. The operation had been notified for up to ₹1,75,000 crore, but the total amount offered by participants was below that ceiling.
According to RBI's official auction result, total offers received were ₹98,516 crore and the central bank accepted the same amount. The cut-off rate was 5.24%, and the weighted average rate was also 5.24%. RBI reported partial acceptance as not applicable.
Key numbers from the August 25 VRRR
- Tenor: 2 days.
- Notified amount: ₹1,75,000 crore.
- Total amount offered: ₹98,516 crore.
- Total amount accepted: ₹98,516 crore.
- Cut-off rate: 5.24%.
- Weighted average rate: 5.24%.
- Partial acceptance: Not applicable.
What the result means operationally
A Variable Rate Reverse Repo is one of RBI's liquidity-management tools. In a VRRR operation, eligible participants place funds with the central bank for the specified tenor through an auction process. For treasury and money-market teams, the notified amount, actual offers and clearing rate provide a same-day view of participation in the liquidity-absorption operation.
In this auction, the amount offered was about ₹76,484 crore below the notified ceiling. Because the amount accepted exactly matched the amount offered, all submitted funds were absorbed at the auction-result level reported by RBI. This observation should not by itself be read as a change in the monetary-policy stance; the release is an operational liquidity-management result rather than a policy-rate decision.
Why finance professionals should track VRRR results
RBI's short-tenor liquidity operations are relevant to bank treasury desks, fixed-income professionals, finance teams and market participants because they affect the placement and absorption of short-term system liquidity. The rate at which funds are accepted can also be monitored alongside other money-market indicators, although broader conclusions require the full liquidity and policy context.
The August 25 result is also distinct from the prior auction announcement: the earlier notice set the intended amount and tenor, while the new press release records the actual participation and accepted amount after the auction was conducted.
For the August 25 two-day VRRR, RBI notified ₹1.75 lakh crore but received and accepted ₹98,516 crore. Both the cut-off and weighted average rate were 5.24%. Treasury and finance professionals should use the RBI's official release as the definitive reference for the auction result and avoid treating a single liquidity operation as a standalone signal on the policy stance.
Useful official links
Result of 2-day Variable Rate Reverse Repo Auction held on August 25, 2026
Key takeaway
The same-day RBI auction result provides fresh liquidity-management data for bank treasury, finance and market professionals and is distinct from the earlier auction announcement.
