On January 23, 2026, the Reserve Bank of India (RBI) announced measures to manage liquidity conditions, including a 90-day Variable Rate Repo (VRR) operation for ₹25,000 crore on January 30, 2026; a USD/INR Buy/Sell Swap auction of USD 10 billion for 3 years on February 04, 2026; and OMO purchase auctions of Government of India securities for ₹1,00,000 crore in two tranches of ₹50,000 crore each on February 05 and February 12, 2026. Detailed instructions for each operation will be issued separately. The RBI will continue to monitor liquidity and market conditions. Contact information for the Department of Communication is: Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, Phone: 022 - 2266 0502, Website: www.rbi.org.in, email: helpdoc@rbi.org.in. The Chief General Manager is Brij Raj. The press release number is 2025-2026/1984.
Key Entities Referenced
Reserve Bank of India: Central bank of India, announcing measures to manage liquidity.
90-day Variable Rate Repo (VRR) operation: Operation to inject liquidity into the banking system.
USD/INR Buy/Sell Swap auction: Swap auction of USD 10 billion for a tenor of 3 years.
OMO purchase auctions of Government of India securities: Purchase auctions for an aggregate amount of ₹1,00,000 crore.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
January 23, 2026
RBI Announces Measures to Manage Liquidity Conditions
On a review of current liquidity and financial conditions, the Reserve Bank has
decided to conduct the following operations to inject liquidity into the banking system:
• 90-day Variable Rate Repo (VRR) operation for an amount of ₹25,000 crore to
be conducted on January 30, 2026.
• USD/INR Buy/Sell Swap auction of USD 10 billion for a tenor of 3 years to be
held on February 04, 2026.
• OMO purchase auctions of Government of India securities for an aggregate
amount of ₹1,00,000 crore in two tranches of ₹50,000 crore each to be held on
February 05, 2026, and February 12, 2026.
2. Detailed instructions for each operation shall be issued separately.
3. The Reserve Bank will continue to monitor evolving liquidity and market conditions
and take measures as appropriate to ensure orderly liquidity conditions.
(Brij Raj)
Press Release: 2025-2026/1984 Chief General Manager