RBI has injected ₹79,256cr into India's banking system
23 Mar 2026

The Reserve Bank of India (RBI) has injected ₹79,256 crore into the banking system via an overnight variable rate (VRR) auction.

The central bank announced that the funds were injected at a cut-off and weighted average rate of 5.26%.

This injection comes amid the sharp decline in surplus liquidity in the banking system due to advance tax payments.

Liquidity in banking system estimated to be in deficit
Liquidity status

As of March 23, the liquidity in the banking system is estimated to be in deficit by some ₹65,395.64 crore.

The RBI's latest injection is much lower than the notified amount of ₹1 lakh crore.

On March 20, a previous injection of ₹25,101 crore was made into the banking system through a three-day VRR auction.

Durable liquidity infused since January via OMOs
Past actions

Before the latest VRR auction, the RBI had injected ₹48,014 crore of liquidity into the banking system via a seven-day VRR on March 17.

Further, since January 2026, the central bank has infused ₹3.50 lakh crore of durable liquidity into the banking system via open market purchases of government securities.

These measures are part of RBI's efforts to manage liquidity in India's financial system effectively.