RBI will conduct a 90-day Variable Rate Repo (VRR) auction under LAF on January 30, 2026, as announced in Press Release 2025-2026/1984 dated January 23, 2026. The notified amount is ₹25,000 crore with a tenor of 90 days. The window timing is 9:30 AM to 10:00 AM, and the date of reversal is April 30, 2026. The operational guidelines are the same as in Press Release 2021-2022/1572 dated January 20, 2022. Participants can prepay the borrowed amount through the Ekuber portal during 09:00–17:00 hours on working days in Mumbai, with prepayment requests placed at least 2 days prior to the original reversal date. Partial prepayment is not allowed. After placing a prepayment request on Ekuber, it must be emailed to the Financial Markets Operations Department (Ph: 022-2263 0982 / 2263 0008). Prepayment settlement occurs at the start of the day following the request placement. On the repayment date, the participant's Reserve Bank current account will be debited for the principal and accrued interest, and collateral securities will be returned to the participant's repo constituent SGL account. The press release number is 2025-2026/1998. Ajit Prasad, Deputy General Manager (Communications), is the contact person.
Key Entities Referenced
Variable Rate Repo (VRR): A type of repurchase agreement offered by RBI, allowing for variable interest rates during the repo period.
Reserve Bank of India: The central bank of India, responsible for conducting the VRR auction.
Mumbai: The city where prepayment requests through the Ekuber portal can be placed on working days.
Press Release 2021-2022/1572: A document containing operational guidelines for the auction, as referenced in the current press release.
LAF: Liquidity Adjustment Facility, the framework under which the VRR auction is conducted.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
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 27, 2026
RBI to conduct 90-day Variable Rate Repo (VRR) auction under LAF
As announced vide the Press Release 2025-2026/1984 dated January 23, 2026,
the Reserve Bank will be conducting a Variable Rate Repo (VRR) auction on Friday,
January 30, 2026, as under:
Tenor
Sl. No. Notified Amount Window Timing Date of Reversal
(day)
(₹ crore)
1 25,000 90 9:30 AM to 10:00 AM April 30, 2026
(Thursday)
2. The operational guidelines for the auction will be same as given in Reserve Bank’s
Press Release 2021-2022/1572 dated January 20, 2022.
3. Participants will also have an option to prepay the amount borrowed in the above
auction, and the operational guidelines for the same are as under:
i. Prepayment requests can be placed only through the Ekuber portal during
09:00–17:00 hours on working days in Mumbai.
ii. Prepayment requests can be placed at least 2 days prior to the original date of
reversal.
iii. Partial prepayment will not be permitted.
iv. Once a request for prepayment is placed in Ekuber portal, the same has to be
intimated via email to the Financial Markets Operations Department (Ph: 022-
2263 0982 / 2263 0008).
v. The settlement of prepayment will take place at the ‘start of day’ on the next
working day following the date of placement of request.
vi. On the date of repayment, current account of the participant with the Reserve
Bank will be debited with the amount of principal and accrued interest for the
borrowing period. The securities offered as collateral will be returned to the
participant’s repo constituent SGL account.
Ajit Prasad
Press Release: 2025-2026/1998 Deputy General Manager
(Communications)