Strong bank demand at RBI's VRRR auctions highlights surplus liquidity in the system, as the central bank seeks to keep overnight rates aligned with its 5.25% repo rate. The Reserve Bank of India (RBI) received strong demand at the variable rate reverse repo (VRRR) auctions on Thursday with cumulative bids amounting to ₹1.91 trillion, against the total notified amount of ₹1.5 trillion.