The Reserve Bank of India (RBI) released its money market operations data for July 29, 2026. The overnight segment recorded a total volume of ₹6,71,325.40 crore, with a weighted average rate of 5.14%. These figures reflect the current liquidity conditions in India’s banking system.
Key Details of RBI Money Market Operations
The overnight segment covered four key instruments. Call Money traded at a weighted average rate of 5.30%, with a volume of ₹16,884.60 crore. Triparty Repo dominated the segment, recording ₹4,69,381.60 crore at 5.14%. Meanwhile, Market Repo contributed ₹1,78,305.75 crore at 5.09%, and Repo in Corporate Bond added ₹6,753.45 crore at 5.33%.
The term segment also saw activity across multiple instruments. Triparty Repo in the term segment recorded ₹13,276.00 crore at a weighted average rate of 5.25%. Additionally, Term Money transactions ranged between 5.45% and 5.80%, while Market Repo settled at 5.53%.
RBI Liquidity Operations and Reserve Position
On July 29, 2026, the RBI conducted a Variable Rate Repo Operation worth ₹50,020.00 crore at a cut-off rate of 5.26%. The Marginal Standing Facility (MSF) saw ₹95.00 crore borrowed at 5.50%. However, the Standing Deposit Facility (SDF) absorbed ₹1,92,111.00 crore at 5.00%, reflecting a net liquidity absorption of ₹1,41,996.00 crore from today’s operations alone.
Outstanding operations showed a net liquidity injection of ₹25,699.66 crore. As a result, the combined net liquidity position stood at a deficit of ₹1,16,296.34 crore. The Standing Liquidity Facility availed from RBI amounted to ₹12,979.66 crore.
What This Means for Banks and Borrowers
Scheduled commercial banks held cash balances of ₹7,91,049.38 crore with the RBI on July 29, 2026. Their average daily cash reserve requirement for the fortnight ending July 31, 2026 stands at ₹8,15,720.00 crore. Therefore, banks are currently slightly below the required threshold, signalling tight short-term liquidity.
The Government of India’s surplus cash balance reckoned for auction stood at ₹50,020.00 crore. Additionally, net durable liquidity as of June 30, 2026 showed a surplus of ₹4,99,485.00 crore. These RBI money market operations data points are critical for tracking the central bank’s liquidity management stance.
Source: RBI Press Releases
