30 Sep VRRR: banks park ₹85,424 crore with RBI at 5.24%
Banks offered ₹85,424 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 30, 2026 · Press Release 2026-2027/1214
What happened
RBI held the 1-day VRRR auction on 30 September 2026. It had offered to borrow ₹2,00,000 crore. Banks offered ₹85,424 crore, RBI accepted ₹85,424 crore, and the cut-off rate and weighted average rate were both 5.24%.
Demand was about 43% of the notified amount, lower than the day before. Banks had less spare cash to lend to RBI.
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.