Mumbai, July 30 -- The Reserve Bank of India (RBI) on July 29 absorbed Rs 46,058 crore from the banking system through a 3-day Variable Rate Reverse Repo (VRRR) auction, continuing its calibrated approach to managing surplus liquidity. The operation was conducted against a notified amount of Rs 50,000 crore, with the cut-off rate set at 5.49% and the weighted average rate marginally lower at 5.48%.

This short-term liquidity absorption tool remains central to the RBI's strategy for aligning money market rates with its policy objectives. The latest auction follows several recent interventions, including a seven-day VRRR on July 25 that absorbed Rs 1,25,008 crore, a two-day VRRR on July 23 that drew Rs 50,001 crore, and a seven-day operatio...