RBI Accepts ₹91,980 Crore in 7-Day VRRR Auction at 5.24% on August 24
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The Reserve Bank of India accepted the full ₹91,980 crore offered by banks in its seven-day Variable Rate Reverse Repo auction held on August 24, 2026, against a notified amount of ₹2.50 lakh crore. The cut-off and weighted average rates were both 5.24%, according to RBI Press Release 2026-2027/950.
What the August 24 auction result shows
The auction had a seven-day tenor and a notified amount of ₹2,50,000 crore. RBI said total offers received were ₹91,980 crore and the same amount was accepted. Because the accepted amount equalled the amount offered, there was no partial acceptance at the cut-off rate.
The cut-off rate was 5.24% and the weighted average rate was also 5.24%. The result follows RBI's August 21 announcement that it would conduct the seven-day Variable Rate Reverse Repo auction under the Liquidity Adjustment Facility on August 24.
Why VRRR matters for liquidity management
A Variable Rate Reverse Repo is one of the liquidity-management tools used by RBI to absorb surplus funds from the banking system for a specified tenor. Banks submit offers indicating the amount they are willing to place with RBI and the rate. The auction outcome therefore provides a same-day read on how much surplus liquidity eligible participants chose to park with the central bank under the announced operation.
For treasury and finance teams, the most useful numbers in this auction are the gap between the ₹2.50 lakh crore notified amount and the ₹91,980 crore actually offered, together with the 5.24% clearing rate. The RBI release itself does not attribute reasons for the level of participation, so the result should be read as an operational liquidity datapoint rather than as a standalone change in the policy rate or monetary-policy stance.
Key figures from the auction
- Tenor: 7 days
- Notified amount: ₹2,50,000 crore
- Total offers received: ₹91,980 crore
- Amount accepted: ₹91,980 crore
- Cut-off rate: 5.24%
- Weighted average rate: 5.24%
- Partial acceptance at cut-off: Not applicable
Practical takeaway for finance professionals
The August 24 result is relevant to bank treasuries, money-market participants and finance professionals tracking short-term system liquidity. It confirms that RBI absorbed ₹91,980 crore through the seven-day VRRR at 5.24%. The auction result should be monitored alongside RBI's other liquidity operations and money-market data rather than interpreted in isolation as a change in the repo rate or policy guidance.
Useful official links
Result of the 7-day Variable Rate Reverse Repo (VRRR) auction held on August 24, 2026
Key takeaway
Same-day official RBI liquidity operation with exact accepted amount and rate, relevant to banking, treasury and finance professionals tracking system liquidity.
