The Reserve Bank of India successfully conducted a 3-day Variable Rate Repo auction, resulting in total bids received amounting to ₹34,291 crore at a cutoff rate of 5.26%.
Outcome of Variable Rate Repo Auction
On July 21, 2026, the Reserve Bank of India conducted a 3-day Variable Rate Repo (VRR) auction. The notified amount for the auction was ₹75,000 crore, with total bids amounting to ₹34,291 crore being received, all of which were allotted.
The auction’s cutoff rate was set at 5.26%, coinciding with the weighted average rate, demonstrating consistent liquidity conditions in the market. This adjustment indicates an active response by RBI to manage short-term liquidity through effective monetary policy tools.
For practitioners, the results of this auction reflect ongoing and effective liquidity management strategies adopted by the RBI. Market analysts should take note of the stability indicated by the cutoff and weighted average rates, which can impact future monetary policy decisions.
Citations
- RBI Variable Rate Repo Auction (2026) RBI Directive