Mumbai, March 30 – The Reserve Bank of India (RBI) injected ₹84,582 crore into the banking system on Monday to enhance liquidity through two variable rate repo (VRR) auctions.
According to an RBI statement, the central bank injected ₹50,001 crore through the first three-day VRR auction early in the day at a cut-off rate of 5.34 per cent and a weighted average rate of 5.44 per cent.
The RBI injected another ₹34,581 crore at a cut-off rate of 5.26 per cent and a weighted average rate of 5.30 per cent during a later auction of the day.
In the first auction, the central bank received bids of ₹57,287 crore, against the notified amount of ₹50,000 crore, and accepted bids worth ₹50,001 crore. However, for the second auction, the bids received were lower than the notified amount.
Currently, liquidity in the banking system is estimated to be in surplus of about ₹1.27 lakh crore as of March 27.
In the last few days, the central bank has infused temporary liquidity of ₹2,73,530 crore into the banking system through VRR auctions of various tenures.
Prior to this, the RBI has infused ₹3.50 lakh crore of durable liquidity into the banking system through open market purchases (OMPs) of government securities since January 2026.
Meanwhile, the Centre announced on Friday that, in consultation with the RBI, it has decided to borrow ₹8.20 lakh crore during the first half (H1) of the financial year 2026-27.
Gross market borrowings in the Budget estimate (BE) 2026-27 were fixed at ₹17.20 lakh crore. Since the presentation of the Budget, switches of G-Secs were conducted, reducing gross market borrowing to ₹16.09 lakh crore. As much as ₹8.20 lakh crore, which works out to 51 per cent of the total amount, is planned to be borrowed in the first half (April-September) of the financial year 2026-27. The borrowing will be done through the issuance of dated securities, including ₹15,000 crore of Sovereign Green Bonds (SGrBs).
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