The Reserve Bank of India released its money market operations data for July 26, 2026. According to the RBI money market report, all overnight and term segment transactions recorded zero volume on this date, as it fell on a Sunday.
Key Details of RBI Money Market Operations
The overnight segment showed no activity across all instruments. Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond each recorded zero volume. Similarly, the term segment — including Notice Money, Term Money, and related repo instruments — reported no transactions for the day.
Under the Liquidity Adjustment Facility, the RBI’s Marginal Standing Facility (MSF) saw banks borrow ₹148 crore at a rate of 5.50%. Meanwhile, the Standing Deposit Facility (SDF) absorbed a significant ₹1,75,530 crore at 5.00%. As a result, the net liquidity from today’s operations stood at a net absorption of ₹1,75,382 crore.
Liquidity Position and Reserve Standing
Outstanding operations also reflect active liquidity management. A variable rate repo operation from July 20, 2026 — worth ₹72,051 crore at 5.26% — remains outstanding and matures on July 27, 2026. Additionally, the Standing Liquidity Facility (SLF) availed from RBI stood at ₹12,979.66 crore.
The net liquidity from outstanding operations showed an injection of ₹81,401.66 crore. However, when combining today’s operations with outstanding positions, the net liquidity turned to an absorption of ₹93,980.34 crore. This indicates the RBI is actively managing surplus liquidity in the banking system.
Scheduled commercial banks held cash balances of ₹8,09,646.03 crore with the RBI as of July 26, 2026. The average daily cash reserve requirement for the fortnight ending July 31, 2026, stands at ₹8,15,720 crore. Therefore, banks are marginally below the required reserve level for this fortnight.
Net Durable Liquidity Remains in Surplus
The Government of India’s surplus cash balance reckoned for auction as of July 24, 2026, was zero. Net durable liquidity, as of June 30, 2026, remained in a comfortable surplus of ₹4,99,485 crore. This suggests the broader banking system continues to operate with adequate liquidity buffers. For example, banks retain strong capacity to meet short-term obligations without stress.
Source: RBI Press Releases
