Mumbai, July 11 -- The Reserve Bank of India (RBI) on 11 July 2025, conducted a 7-day Variable Rate Reverse Repo (VRRR) auction to absorb surplus liquidity from the banking system. While the notified amount for the short-term liquidity operation stood at Rs 2,50,000 crore, the auction received offers worth Rs 1,51,633 crore, all of which were accepted by the central bank.

The cut-off rate and the weighted average rate were both set at 5.49%, indicating uniform bid acceptance and no partial allotments at the margin. With the accepted bids exactly matching the offers received, the auction was fully subscribed only to the extent of market demand, suggesting that the banking system continues to operate with a considerable surplus yet measure...