VRRR result, 1-day, 15 Oct: only ₹9,562 crore comes in at 5.49%
Banks offered just ₹9,562 crore against ₹50,000 crore on offer, all accepted at 5.49%.
Official title: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 15, 2026 · Press Release 2026-2027/1331
What happened
In the overnight VRRR auction on 15 October 2026, RBI offered to borrow ₹50,000 crore. Banks offered only ₹9,562 crore (about 19%), all accepted at a cut-off rate of 5.49%, equal to the weighted average rate.
This was the weakest response of the week. It points to spare cash drying up, and RBI switched to lending cash to banks a few days later (see the 19 October VRR releases).
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.