VRRR result, 10-day, 9 Oct: banks offer only ₹18,170 crore at 5.49%
Only ₹18,170 crore came in against ₹1,50,000 crore on offer for the 10-day auction, all accepted at 5.49%.
Official title: Result of the 10-day Variable Rate Reverse Repo (VRRR) auction held on October 09, 2026 · Press Release 2026-2027/1291
What happened
In the 10-day VRRR auction on 9 October 2026, RBI offered to borrow ₹1,50,000 crore until 19 October. Banks offered just ₹18,170 crore (about 12%), and RBI accepted all of it. The cut-off rate and weighted average rate were both 5.49%.
The weak response suggests banks did not want to lock up cash for 10 days at this rate, even though they were happy to park large amounts for one to three days.
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.