The Reserve Bank of India (RBI) has decided to conduct a second 90-day Variable Rate Repo (VRR) auction under the Liquidity Adjustment Facility (LAF) on Friday, January 30, 2026, after reviewing prevailing and evolving liquidity conditions.

The auction will have a notified amount of Rs 2,00,000 crore with a tenor of 90 days. Bidding will take place between 1:00 PM and 1:30 PM, with the reversal date set for April 30, 2026 (Thursday). The operational guidelines for the auction will remain the same as those outlined in the RBI’s press release dated January 20, 2022.

Participants will also have the option to prepay the borrowed amount. Prepayment requests must be submitted through the Eku"ber portal during 09:00–17:00 hours on Mumbai working days, at least two days before the original reversal date. Partial prepayment will not be allowed. Once a request is placed, participants must intimate the Financial Markets Operations Department via email.

Prepayment settlements will be carried out at the start of day on the next working day following the request. On the repayment date, the participant’s current account with the RBI will be debited for the principal and accrued interest, and the collateral securities will be returned to the participant’s repo constituent SGL account.