RBI announces ₹2.5 lakh crore overnight VRRR auction for Sept 16

The RBI will conduct a 1-day Variable Rate Reverse Repo auction for ₹2.5 lakh crore on September 16, 2026, to absorb excess liquidity. This is a routine liquidity management operation under the LAF framework, indicating the central bank's intent to manage durable surplus conditions. The move signals a neutral-to-tight bias in liquidity management, with no change in policy stance.