Mumbai, March 20 The Reserve Bank of India announced on Friday that it will conduct an overnight variable rate repo (VRR) auction worth Rs 1 lakh crore on March 23.
The auction will take place between 9:30 am and 10:00 am on March 23, and the funds will be reversed on March 24, according to the central bank's statement.
The central bank announced the auction based on the current and evolving liquidity conditions in the banking system, the statement added.
Currently, the liquidity in the banking system is estimated to be in excess of around Rs 16,875.36 crore.
Earlier today, the central bank injected Rs 25,101 crore of temporary liquidity into the banking system through a three-day VRR auction.
On March 17, the central bank injected Rs 48,014 crore of liquidity into the banking system via a seven-day VRR.
Prior to this, the RBI has injected Rs 3.50 lakh crore of durable liquidity into the banking system through open market purchases (OMPs) of government securities since January 2026.