diff --git a/Makefile b/Makefile
index d0015246..5a597417 100644
--- a/Makefile
+++ b/Makefile
@@ -18,7 +18,7 @@ DIST_DIR ?= $(CURDIR)/dist
 
 LIB_NAME := nvidia-container-toolkit
 LIB_VERSION := 1.7.0
-LIB_TAG := rc.1
+LIB_TAG := rc.2
 
 GOLANG_VERSION := 1.16.3
 MODULE := github.com/NVIDIA/nvidia-container-toolkit
diff --git a/build/container/Makefile b/build/container/Makefile
index c0b62a2a..e685b9a0 100644
--- a/build/container/Makefile
+++ b/build/container/Makefile
@@ -21,7 +21,7 @@ DIST_DIR ?= $(CURDIR)/dist
 # TODO: These should be defined ONCE and currently duplicate the version in the
 # toolkit makefile.
 LIB_VERSION := 1.7.0
-LIB_TAG := rc.1
+LIB_TAG := rc.2
 
 VERSION ?= $(LIB_VERSION)$(if $(LIB_TAG),-$(LIB_TAG))
 
diff --git a/packaging/debian/changelog b/packaging/debian/changelog
index 68677466..f524b8c4 100644
--- a/packaging/debian/changelog
+++ b/packaging/debian/changelog
@@ -1,3 +1,7 @@
+nvidia-container-toolkit (1.7.0~rc.2-1) experimental; urgency=medium
+
+ -- NVIDIA CORPORATION <cudatools@nvidia.com>  Mon, 29 Nov 2021 10:06:53 +0100
+
 nvidia-container-toolkit (1.7.0~rc.1-1) experimental; urgency=medium
 
   * Specify containerd runtime type as string in config tools to remove dependency on containerd package
diff --git a/packaging/rpm/SPECS/nvidia-container-toolkit.spec b/packaging/rpm/SPECS/nvidia-container-toolkit.spec
index ed7368de..0cbd2675 100644
--- a/packaging/rpm/SPECS/nvidia-container-toolkit.spec
+++ b/packaging/rpm/SPECS/nvidia-container-toolkit.spec
@@ -64,6 +64,9 @@ rm -f %{_bindir}/nvidia-container-runtime-hook
 /usr/share/containers/oci/hooks.d/oci-nvidia-hook.json
 
 %changelog
+* Mon Nov 29 2021 NVIDIA CORPORATION <cudatools@nvidia.com> 1.7.0-0.1.rc.2
+- [Placeholder]
+
 * Thu Nov 25 2021 NVIDIA CORPORATION <cudatools@nvidia.com> 1.7.0-0.1.rc.1
 - Specify containerd runtime type as string in config tools to remove dependency on containerd package
 - Add supported-driver-capabilities config option to allow for a subset of all driver capabilities to be specified