The Reserve Bank of India released its money market operations data for July 27, 2026, revealing key liquidity trends across overnight and term segments. The total overnight segment volume reached ₹7,04,971.29 crore, with a weighted average rate of 5.21%. These figures offer a clear snapshot of short-term borrowing activity in India’s banking system.
Key Details of Money Market Operations
The overnight segment covered four major instruments. Call Money traded at a weighted average rate of 5.26%, with a volume of ₹18,826.61 crore. Meanwhile, Triparty Repo dominated activity, recording ₹4,85,865.95 crore at 5.22%. Market Repo contributed ₹1,93,869.28 crore at 5.15%, while Repo in Corporate Bonds added ₹6,409.45 crore at 5.29%.
In the term segment, Notice Money traded at 5.06% on a volume of ₹139 crore. Additionally, Term Money saw ₹1,881 crore transacted, with rates ranging between 5.35% and 5.80%. Term Triparty Repo and Market Repo also saw modest activity at 5.26% and 5.43%, respectively.
RBI Liquidity Operations and Reserve Position
On the RBI operations front, the central bank conducted a Variable Rate Repo of ₹12,720 crore for a 3-day tenor at a cut-off rate of 5.26%. However, the Standing Deposit Facility (SDF) absorbed a significant ₹1,28,685 crore overnight at 5.00%. As a result, today’s net liquidity position showed an absorption of ₹1,13,227 crore, indicating a tightening of surplus funds.
The Marginal Standing Facility (MSF) saw ₹2,738 crore availed at 5.50%. Additionally, the Standing Liquidity Facility extended ₹12,979.66 crore to banks. Therefore, the net outstanding liquidity position stood at ₹12,979.66 crore injected. Overall, factoring in today’s operations, the RBI absorbed a net ₹1,00,247.34 crore from the banking system.
Scheduled Commercial Banks held cash balances of ₹8,10,520.88 crore with the RBI as on July 27, 2026. For example, the average daily cash reserve requirement for the fortnight ending July 31, 2026 stands at ₹8,15,720 crore. Net durable liquidity, as on June 30, 2026, remained in surplus at ₹4,99,485 crore, reflecting comfortable system-wide liquidity conditions.
Source: RBI Press Releases
