VRRR result, 3-day, 12 Oct: banks offer ₹37,558 crore at 5.49%
Banks offered ₹37,558 crore against ₹2,00,000 crore on offer, and RBI took all of it at 5.49%.
Official title: Result of the 3-day Variable Rate Reverse Repo (VRRR) auction held on October 12, 2026 · Press Release 2026-2027/1308
What happened
In the 3-day VRRR auction on 12 October 2026, RBI offered to borrow ₹2,00,000 crore until 15 October. Banks offered only ₹37,558 crore (about 19%), all accepted at a cut-off rate of 5.49%, equal to the weighted average rate.
Compared with the ₹1.4 lakh crore that came in on 9 October, this is much lower. It suggests the pool of spare cash was already shrinking.
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.