The Reserve Bank of India (RBI) will conduct a 30-day Variable Rate Reverse Repo (VRRR) auction worth Rs 7 lakh crore on September 7, 2026, to absorb excess liquidity in the banking system, which currently stands at over Rs 10.32 lakh crore. Participants will have the option of premature reversal through the E-Kuber portal, while the RBI continues to step up liquidity absorption.
Bank of Baroda has launched the ‘bob Legend FCNR(B) Deposit Scheme’, offering NRIs interest rates of up to 6.25% per annum on US Dollar deposits and competitive rates across other major currencies.
