The Reserve Bank of India (RBI) released data on RBI money market operations for July 23, 2026. The overnight segment recorded a total volume of ₹6,73,445.78 crore. The weighted average rate for this segment stood at 5.07%, with rates ranging from 4.00% to 5.40%.
Key Details of Money Market Operations
The overnight segment comprised four key instruments. Call Money recorded a volume of ₹14,221.94 crore at a weighted average rate of 5.28%. Triparty Repo dominated overnight activity with ₹4,72,781.75 crore, while Market Repo contributed ₹1,80,028.69 crore. Additionally, Repo in Corporate Bonds accounted for ₹6,413.40 crore at 5.38%.
The term segment also saw notable activity. Notice Money transactions totalled ₹210 crore at 5.18%. Term Money volumes reached ₹1,208 crore, with rates ranging between 5.50% and 5.80%. Meanwhile, Term Triparty Repo and Market Repo added ₹4,222.60 crore and ₹1,447.38 crore, respectively.
RBI Liquidity Operations and Reserve Position
On the liquidity front, the RBI absorbed ₹1,85,102 crore through the Standing Deposit Facility (SDF) at 5.00%. However, the Marginal Standing Facility (MSF) saw banks borrow ₹483 crore at 5.50%. As a result, today’s net liquidity absorption stood at ₹1,84,619 crore.
Outstanding variable rate repo operations totalled ₹1,13,542 crore across multiple tenors, all at a cut-off rate of 5.26%. Therefore, the net liquidity from outstanding operations showed an injection of ₹1,27,497.66 crore. The Standing Liquidity Facility (SLF) availed from RBI amounted to ₹13,955.66 crore.
On the reserve side, scheduled commercial banks held cash balances of ₹7,95,380.61 crore with the RBI as on July 23, 2026. However, the average daily cash reserve requirement for the fortnight ending July 31, 2026 is ₹8,15,720 crore. The Government of India’s surplus cash balance reckoned for auction stood at zero. Net durable liquidity as on June 30, 2026 recorded a surplus of ₹4,99,485 crore. Overall, the combined net liquidity position, including today’s operations, showed an absorption of ₹57,121.34 crore.
Source: RBI Press Releases
