The Reserve Bank of India released its money market operations data for July 21, 2026. The overnight segment recorded a total volume of ₹6,55,296.51 crore. Meanwhile, the weighted average rate stood at 5.25%, with rates ranging between 4.00% and 5.54%.
Key Details of Money Market Operations
The overnight segment covered four major instruments. Call Money saw a volume of ₹19,098.18 crore at a weighted average rate of 5.35%. Triparty Repo dominated activity with ₹4,46,470.05 crore, while Market Repo contributed ₹1,83,019.88 crore. Additionally, Repo in Corporate Bonds added ₹6,708.40 crore at a rate of 5.47%.
The term segment recorded comparatively lower activity. Notice Money transacted ₹130 crore at 5.20%, and Term Money reached ₹637 crore. However, no transactions occurred under Term Repo in Corporate Bonds on this date.
RBI Liquidity Operations and Reserve Position
The RBI conducted a Variable Rate Repo operation on July 21, 2026, injecting ₹34,291 crore for a 3-day tenor at a cut-off rate of 5.26%. The Marginal Standing Facility absorbed ₹54 crore at 5.50%. As a result, the Standing Deposit Facility absorbed a significant ₹1,28,594 crore at 5.00%.
Therefore, net liquidity from today’s operations showed an absorption of ₹94,249 crore. Outstanding repo operations from July 20 stand at ₹72,051 crore, maturing on July 27. The Standing Liquidity Facility availed from RBI totalled ₹12,908.82 crore. Net liquidity including outstanding operations recorded an absorption of ₹9,289.18 crore overall.
Scheduled commercial banks maintained cash balances of ₹8,31,895.35 crore with the RBI as on July 21, 2026. This figure exceeds the average daily cash reserve requirement of ₹8,15,720 crore for the fortnight ending July 31, 2026. Additionally, the Government of India surplus cash balance stood at ₹34,291 crore. Net durable liquidity as on June 30, 2026, remained in surplus at ₹4,99,485 crore, reflecting comfortable system-level liquidity conditions.
Source: RBI Press Releases
