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RBI Infuses ₹79,256 Crore into Banking System Through Overnight VRR Auction

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RBI Injects ₹79,256 Cr into Banking System via Overnight VRR Auction

RBI Injects ₹79,256 Cr into Banking System via Overnight VRR Auction

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CNBC TV18•23-03-2026, 14:17

RBI Injects ₹79,256 Cr into Banking System via Overnight VRR Auction

•The Reserve Bank of India (RBI) infused ₹79,256 crore into the banking system through an overnight variable rate (VRR) auction on Monday, March 23.
•Funds were injected at cut-off and weighted average rates of 5.26%.
•The injected liquidity was lower than the notified amount of ₹1 lakh crore, despite a sharp drop in surplus liquidity due to advance tax payments.
•Currently, the banking system faces a liquidity deficit of approximately ₹65,395.64 crore as of March 23.
•Previous liquidity injections include ₹25,101 crore via a three-day VRR on March 20 and ₹48,014 crore via a seven-day VRR on March 17.

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RBI Injects Rs 25,101 Cr into Banking System via 3-Day VRR Auction

Expressions of Interest were invited in January 2023, with investors including Fairfax Financial Holdings, Emirates NBD and Oaktree Capital Management clearing the RBI's fit-and-proper criteria. Kotak Mahindra Bank had also joined the race. Due diligence by potential bidders began in August 2025, and the Department of Investment and Public Asset Management had earlier said that a core part of the transaction would be completed by March 31, 2026.

RBI Injects ₹48,014 Crore into Banking System via 7-Day VRR Auction

Representational image (Image: News18)

RBI Injects Rs 84,582 Cr into Banking System via Two Variable Rate Repos

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RBI to Conduct Rs 75,000 Crore 3-Day Repo Auction on March 20

Market participants believe the liquidity stress is unlikely to persist beyond March 31.

India's Banking Liquidity Dips into Deficit for First Time in 2026