29 Sep morning VRRR: banks put in ₹1.19 lakh crore at 5.24%
Banks offered ₹1,19,048 crore against ₹2,00,000 crore sought. All was accepted at 5.24%.
Official title: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on September 29, 2026 · Press Release 2026-2027/1206
What happened
RBI held the 1-day VRRR auction on 29 September 2026. It had offered to borrow ₹2,00,000 crore. Banks offered ₹1,19,048 crore, RBI accepted ₹1,19,048 crore, and the cut-off rate and weighted average rate were both 5.24%.
About 60% of the amount was taken, so banks had a lot of spare cash, though not as much as RBI was ready to absorb.
What it means for you
No direct effect on your deposits, loans or EMIs. It is an operation between RBI and banks.
What it means for businesses
This shows banks and treasuries what return they can get for parking cash with RBI. For businesses and borrowers there is no direct change.
Read the original
Press release on rbi.org.in ↗ Official PDF ↗
This explainer simplifies the official text. If anything here differs from the RBI's release, the release is right.