RBI announces ₹3 lakh crore overnight VRRR auction to absorb liquidity

The Reserve Bank of India will conduct a ₹3,00,000 crore overnight Variable Rate Reverse Repo auction on September 17, 2026, to absorb surplus liquidity. The large notified amount signals the RBI's intent to manage excess banking system liquidity, likely to keep short-term rates anchored. This is a routine liquidity management operation, but the size is notable and may reflect persistent surplus conditions.