The Reserve Bank of India released its money market operations data for July 9, 2026. The overnight segment recorded a total volume of ₹6,90,802.32 crore, with a weighted average rate of 5.28%. Therefore, short-term borrowing costs remained broadly stable across key instruments.
Key Details of Money Market Operations
Call money volumes stood at ₹24,893.22 crore, with a weighted average rate of 5.34%. Triparty Repo dominated overnight activity, logging ₹4,80,842.85 crore at 5.27%. Additionally, Market Repo contributed ₹1,78,345.95 crore at 5.30%, while Repo in Corporate Bonds added ₹6,720.30 crore at a slightly higher 5.38%.
The term segment saw comparatively lower volumes. Notice Money traded at ₹89 crore, and Term Money recorded ₹661 crore. Meanwhile, Term Triparty Repo volumes reached ₹3,195 crore at 5.28%, and Term Market Repo settled at ₹473.31 crore with a weighted average rate of 5.51%.
RBI Liquidity Operations and Reserve Position
The RBI conducted a Variable Rate Repo Operation on July 9, 2026, injecting ₹46,729 crore at a cut-off rate of 5.26%. However, the Standing Deposit Facility (SDF) absorbed a significantly larger ₹1,67,785 crore at 5.00%. As a result, net liquidity from today’s operations showed an absorption of ₹1,20,978 crore.
The Marginal Standing Facility (MSF) saw modest usage of ₹78 crore at 5.50%. Additionally, the RBI extended Standing Liquidity Facility support of ₹10,083.82 crore. Overall, net liquidity outstanding, including today’s operations, reflected an absorption of ₹1,10,894.18 crore.
Scheduled commercial banks held cash balances of ₹7,87,542.58 crore with the RBI as on July 9, 2026. For example, the average daily cash reserve requirement for the fortnight ending July 15, 2026 stands at ₹7,98,115 crore. Furthermore, net durable liquidity as on June 15, 2026 remained in surplus at ₹4,82,130 crore, indicating comfortable systemic liquidity conditions.
What This Means for Banking Customers
Stable money market operations signal steady short-term interest rate conditions. Therefore, retail borrowers and businesses can expect lending rates to remain relatively unchanged in the near term. The RBI’s active liquidity management continues to support orderly market functioning across India’s banking system.
Source: RBI Press Releases
