Important StoriesCore sector grew at 7.9% in September; industrial outlook remains uncertainSugar-ethanol curbs put auto industry’s E20 transition to test; OMCs face ₹813-crore potential cost increaseCommerce Department steps up FTA outreach amid low utilisationSundaram MF enters SIF business with launch of Select Equity Ex-Top 100 Long Short FundICICI Lombard bets on disciplined risk selection for profitable growth: CFOFollow UsFOLLOW US ON WHATSAPPHomeGO BACK TO HOME THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. RBI's ₹50k cr overnight VRR auction attracts nearly 2-fold bids The central bank received bids worth ₹93,241 crore against the notified amount of ₹50,000 crore and accepted bids worth ₹50,007 crore By PTI Updated - October 21, 2026 at 07:55 PM. | Mumbai ×ShareWhatsAppXFacebookLinkedInMessengerRedditMailhttps://www.thehindubusinessline.com/money-and-banking/rbis-50k-cr-overnight-vrr-auction-attracts-nearly-2-fold-bids/article71607309.eceCopy The Reserve Bank of India's ₹50,000 crore overnight Variable Rate Repo (VRR) auction on Wednesday attracted bids nearly twice the notified amount.

The central bank received bids worth ₹93,241 crore against the notified amount of ₹50,000 crore and accepted bids worth ₹50,007 crore, according to official data.

The bids were accepted at a cut-off and weighted average rate of 5.52 per cent.

Meanwhile, liquidity in the banking system is estimated to be in surplus of around ₹48,303.95 crore as on October 20, according to the RBI data.

Systemic liquidity has come down significantly due to various measures conducted by the RBI, along with monthly outflows from the banking system on account of goods and services tax (GST).

Earlier this month, the central bank announced several measures on liquidity and foreign exchange, including an increase in the minimum daily maintenance requirements for the Cash Reserve Ratio (CRR) and Open Market Operations (OMO) sales of government securities.

The RBI (Reserve Bank of India) announced an increase in the daily maintenance of CRR to 99 per cent from 90 per cent earlier.

The measures aimed to drain the large surplus liquidity in the banking system, which was built up following large inflows of FCNR(B) deposits.

As the surplus liquidity in the banking system gradually declines and moves towards a small deficit, it will help in transmission of the recent rate hike of 25 basis points by the RBI to deposit and lending rates.

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