The Reserve Bank of India released its money market operations data for July 18, 2026, offering a clear snapshot of overnight liquidity and banking system cash flows. The figures show a net liquidity absorption of ₹82,900 crore when combining today’s and outstanding operations. This highlights the RBI’s continued effort to manage surplus liquidity in the banking system.
Key Money Market Operations Data
The overnight segment recorded a total volume of ₹18,380 crore, with a weighted average rate of 4.45%. Triparty Repo dominated this segment, contributing ₹16,111 crore at a rate of 4.41%. Call Money traded at a higher weighted average of 4.94%, while Market Repo settled at 4.59%. Meanwhile, the Repo in Corporate Bond segment recorded no transactions for the day.
In the term segment, only Notice Money saw activity, with a modest volume of ₹9 crore at a weighted average rate of 4.73%. All other term segment categories — including Term Money, Triparty Repo, Market Repo, and Corporate Bond Repo — reported zero transactions. Therefore, short-term overnight funding remained the dominant mode of market activity.
RBI Liquidity Operations and Reserve Position
The RBI absorbed a significant ₹1,59,492 crore through the Standing Deposit Facility (SDF) on a one-day tenor at 5.00%. Additionally, banks availed ₹1,437 crore under the Marginal Standing Facility (MSF) at 5.50%. As a result, today’s net liquidity absorbed stood at ₹1,64,025 crore. This reflects the central bank’s active stance in draining excess funds from the system.
Outstanding variable rate repo operations totalled ₹75,819 crore at a cut-off rate of 5.26%, maturing on July 20, 2026. The Standing Liquidity Facility (SLF) availed from RBI stood at ₹10,783 crore. However, combining all outstanding operations, net liquidity injected remained positive at ₹81,124 crore.
Scheduled commercial banks held cash balances of ₹8,34,639 crore with the RBI as on July 18, 2026. This comfortably exceeds the average daily cash reserve requirement of ₹8,15,720 crore for the fortnight ending July 31, 2026. Furthermore, net durable liquidity in the system stood at a healthy surplus of ₹4,99,485 crore as of June 30, 2026. The Government of India’s surplus cash balance reckoned for auction was ₹75,819 crore as on July 17, 2026.
Source: RBI Press Releases
