Economy and Finance
3-day VRRR auction of 28 August 2026: Rs 1,52,537 crore accepted at 5.24 per cent
28 August 2026 | Reserve Bank of India
In the 3-day Variable Rate Reverse Repo (VRRR) auction held on 28 August 2026, against a notified amount of Rs 3,00,000 crore, offers of Rs 1,52,537 crore were received and all accepted.
The cut-off rate and weighted average rate were both 5.24 per cent.
Key facts- Tenor: 3-day
- Notified: Rs 3,00,000 crore
- Accepted: Rs 1,52,537 crore
- Cut-off rate: 5.24%
Exam takeaway: Notified amounts rose from Rs 1,25,000 crore on 11 August.
Quick revision: RBI 3-day VRRR of 28 August (RBI).
Reserve Bank of India original sourceGovernment Schemes
PARIVARTAN Scheme: 1,300-plus beneficiaries registered, Rs 9,585 crore outlay
28 August 2026 | Press Information Bureau
PIB said the Union Cabinet approved the PARIVARTAN Scheme on 3 June 2026 to replace over 2 lakh trucks and buses meeting BS-IV or older emission norms registered in Delhi and the NCR districts of Haryana, Rajasthan and Uttar Pradesh with BS-VI or stricter, or electric, vehicles. As of 28 August, more than 1,300 beneficiaries had registered, with 42 banks and NBFCs and 15 auto OEMs onboarded.
The scheme has a total outlay of Rs 9,585 crore, including Rs 5,041 crore of Central budgetary support, funded through the NCR Planning Board and implemented by the Ministry of Road Transport and Highways. Incentives include 5 per cent interest savings on eligible vehicle loans for 5 years and a road tax waiver.
Key facts- Approved by Cabinet: 3 June 2026
- Total outlay: Rs 9,585 crore
- Central budgetary support: Rs 5,041 crore
- Target: replace over 2 lakh BS-IV or older trucks and buses
Exam takeaway: PARIVARTAN expands to Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions.
Quick revision: PARIVARTAN scheme progress (PIB, 28 August 2026).
Press Information Bureau original sourceGovernment Schemes
PRIP Scheme second call for applications, Rs 5,000 crore outlay for pharma and medtech R&D
28 August 2026 | Press Information Bureau
PIB said the Department of Pharmaceuticals announced the second call for applications under the Promotion of Research and Innovation in Pharma & MedTech (PRIP) Scheme, with a financial outlay of Rs 5,000 crore.
The early-stage track covers startup and MSME projects moving from Technology Readiness Level (TRL) 1, 2 or 3 to higher TRLs, not beyond TRL 5, with financial assistance of up to Rs 5 crore per project.
Key facts- Scheme: PRIP (Pharma and MedTech)
- Outlay: Rs 5,000 crore
- Early-stage assistance: up to Rs 5 crore per project
- TRL limit for early stage: not beyond TRL 5
Exam takeaway: The Department of Pharmaceuticals sits under the Ministry of Chemicals and Fertilizers.
Quick revision: PRIP scheme second call (PIB, 28 August 2026).
Press Information Bureau original source