VRRR result 8 Oct: banks put ₹1.61 lakh crore with RBI for a day at 5.49%
Banks offered ₹1,60,664 crore against the ₹2,00,000 crore on offer, and RBI took all of it at 5.49%.
Official title: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 08, 2026 · Press Release 2026-2027/1280
What happened
In the one-day VRRR auction on 8 October 2026, RBI offered to borrow ₹2,00,000 crore. Banks offered ₹1,60,664 crore (about 80% of the amount) and RBI accepted every rupee. The cut-off rate and the weighted average rate were both 5.49%, so no bank was partly accepted.
Because banks were happy to park more than ₹1.6 lakh crore with RBI for a day, there was plenty of spare cash in the banking system that day.
What it means for you
No direct effect on your savings, loans or EMIs. It is a day-to-day cash management step between RBI and banks.
What it means for businesses
Banks that hold surplus cash can earn interest by lending it to RBI for this period. For other businesses the effect is indirect, through short-term interest rates in the money market.
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.