RBI Accepts ₹95,970 Crore in 3-Day VRRR Auction at 5.24% on August 21
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The Reserve Bank of India accepted ₹95,970 crore in its three-day Variable Rate Reverse Repo auction held on 21 August 2026, according to the central bank’s same-day result announcement.
The auction had a notified amount of ₹1.50 lakh crore. Banks submitted offers aggregating ₹95,970 crore, and RBI accepted the entire amount offered.
Key auction numbers
- Tenor: 3 days
- Notified amount: ₹1,50,000 crore
- Total offers received: ₹95,970 crore
- Amount accepted: ₹95,970 crore
- Cut-off rate: 5.24%
- Weighted average rate: 5.24%
RBI also reported no partial acceptance percentage at the cut-off rate, consistent with the full acceptance of the offers received.
What a VRRR operation does
A Variable Rate Reverse Repo is one of RBI’s liquidity-management tools. In such an operation, eligible market participants place funds with RBI for the specified tenor, allowing the central bank to absorb surplus liquidity from the banking system for that period.
The result therefore provides treasury and banking professionals with a same-day indication of how much liquidity market participants were willing to place with RBI against the notified absorption amount. In this auction, demand was below the ₹1.50 lakh crore notified size, but every rupee offered was accepted.
Why the 5.24% result matters
The identical cut-off and weighted average rate of 5.24% show that the accepted bidding was concentrated at that level in the final result. Treasury desks typically track these auction outcomes alongside call-money rates, other liquidity operations and the prevailing policy corridor to assess short-term funding and liquidity conditions.
The release is identified as RBI Press Release 2026-2027/937. Since VRRR operations are short-tenor liquidity actions, the result is primarily relevant to banks, treasury professionals and market participants monitoring near-term liquidity rather than to retail borrowers directly.
Useful official links
Result of the 3-day Variable Rate Reverse Repo (VRRR) auction held on August 21, 2026
Key takeaway
RBI notified ₹1.50 lakh crore for the three-day absorption operation, received ₹95,970 crore of bids and accepted the full amount at 5.24%.
