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RBI Announces 3‑Day Variable Rate Repo Auction on July 10, 2026

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Issued by RBI: 10 Jul 2026
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📄 Source: Reserve Bank of India · Press Release prid 63116
Quick answerThe RBI will run a three‑day Variable Rate Repo (VRR) auction under the LAF on July 10, 2026, offering ₹50,000 crore for a 3‑day tenor. Bids can be placed between 09:30 AM and 10:00 AM, with the repo reversed on July 13, 2026. Operational rules follow the Jan‑20‑2022 guidelines.

What changed

The RBI has scheduled a VRR auction for July 10, 2026, with a total notified amount of ₹50,000 crore and a three‑day tenor. The bidding window is set from 09:30 AM to 10:00 AM, and the repo will be reversed on Monday, July 13, 2026. The auction will follow the same operational guidelines issued in the RBI press release dated 20 January 2022.

What it means for you

Banks and other eligible lenders can access short‑term liquidity at a variable rate during the auction window, helping them manage cash‑flow mismatches. The reversal date means funds will be repaid on July 13, so institutions must plan cash‑outflows accordingly. Compliance with the 2022 guidelines remains mandatory.

What you must do

Who it affects

Eligible lenders as defined by RBI eligibility criteria

What is the amount and tenor of the VRR auction?

The RBI will offer ₹50,000 crore for a three‑day tenor.

When can bids be submitted?

Bids are accepted on July 10, 2026, between 09:30 AM and 10:00 AM.

Which guidelines govern this auction?

The operational framework is the same as the RBI press release dated 20 January 2022 (PR 2021‑2022/1572).

Test yourself

Quick self-check built only from the facts already on this page — tap a question to reveal the answer.

Q1. In one line, what does this circular do?

The RBI will run a three‑day Variable Rate Repo (VRR) auction under the LAF on July 10, 2026, offering ₹50,000 crore for a 3‑day tenor. Bids can be placed between 09:30 AM and 10:00 AM, with the repo reversed on July 13, 2026. Operational rules follow the Jan‑20‑2022 guidelines.

Q2. Who does this circular apply to?

Eligible lenders as defined by RBI eligibility criteria

Q3. What is the first thing you should do about it?

Mark the auction date (July 10) and reversal date (July 13) in your liquidity calendar.

Related circulars · Financial Markets Regulation
RBI Announces ₹1.25 Lakh Crore 2-Day VRR Auction on July 1Overnight VRR Auction Result: June 30, 2026RBI conducts ₹75,000 crore overnight VRR auction on June 30, 2026VRR Auction June 29, 2026: ₹75,021 Cr Allotted at 5.26%RBI Finalises Master Direction – Credit Derivatives Directions, 2026
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Who does what — compliance checklist
⚙️ Operations
  • Ensure systems can process the reversal on July 13.
💻 IT / Systems
  • Ensure systems can process the reversal on July 13.
📜 Compliance
  • Mark the auction date (July 10) and reversal date (July 13) in your liquidity calendar.
  • Prepare bid submissions to be ready for the 09:30‑10:00 AM window.
  • Review the RBI's Jan‑20‑2022 VRR operational guidelines for eligibility and pricing rules.
  • Adjust short‑term funding forecasts to incorporate the ₹50,000 crore repo.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (Eligible lenders as defined by RBI eligibility criteria), your first concrete step on “RBI Announces 3‑Day Variable Rate Repo Auction on July 10, 2026” is: “Mark the auction date (July 10) and reversal date (July 13) in your liquidity calendar.” (RBI issued this 10 Jul 2026).

  1. Circular: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63116 -- RBI Announces 3‑Day Variable Rate Repo Auction on July 10, 2026
  2. Issued: 10 Jul 2026
  3. Action required: Mark the auction date (July 10) and reversal date (July 13) in your liquidity calendar.
  4. Action required: Prepare bid submissions to be ready for the 09:30‑10:00 AM window.
  5. Action required: Review the RBI's Jan‑20‑2022 VRR operational guidelines for eligibility and pricing rules.
  6. Action required: Adjust short‑term funding forecasts to incorporate the ₹50,000 crore repo.
  7. Action required: Ensure systems can process the reversal on July 13.
  8. Owner: ____________ Target date: ____________
  9. Board/committee approval needed? Y / N
  10. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
AI-drafted · AI fact-check pending · under the editorial review of our expert review panel · decoded & published by BankPulse · 09 Jul 2026, 19:26 IST
Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63116 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert review panel. Independent platform, not affiliated with the Reserve Bank of India; never reproduces RBI text verbatim.
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