The Reserve Bank of India (RBI) released its money market operations data for June 23, 2026. The overnight segment recorded a total volume of ₹6,97,960.72 crore. The weighted average rate stood at 5.26%, with rates ranging between 4.00% and 5.55%.
Key Details of RBI Money Market Operations
The overnight segment covered four sub-categories. Call Money recorded a volume of ₹20,969.93 crore at a weighted average rate of 5.38%. Triparty Repo dominated activity, with ₹4,87,749.60 crore transacted at 5.24%. Additionally, Market Repo contributed ₹1,82,451.39 crore, while Repo in Corporate Bond added ₹6,789.80 crore at 5.43%.
The term segment saw comparatively lighter activity. Notice Money volume was ₹82.50 crore at 5.17%, while Term Money traded between 5.65% and 6.20%. Meanwhile, Triparty Repo in the term segment recorded ₹3,305.00 crore at 5.29%.
RBI Liquidity Operations and Reserve Position
The RBI conducted a Variable Rate Repo operation on June 23, 2026. It injected ₹1,41,171.00 crore for a 7-day tenor at a cut-off rate of 5.26%, maturing on June 30, 2026. The Marginal Standing Facility (MSF) saw ₹1,048.00 crore availed at 5.50%. However, the Standing Deposit Facility (SDF) absorbed ₹1,38,150.00 crore at 5.00%.
As a result, net liquidity injected from today’s operations stood at ₹4,069.00 crore. The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹10,754.89 crore. Therefore, net liquidity injected from outstanding operations totalled ₹10,754.89 crore, and overall net liquidity including today’s operations reached ₹14,823.89 crore.
What This Means for Banks and the Market
Scheduled commercial banks held cash balances of ₹7,85,161.16 crore with the RBI as on June 23, 2026. However, the average daily cash reserve requirement for the fortnight ending June 30, 2026 is ₹8,01,069.00 crore. This indicates banks are working to meet their reserve targets before the fortnight closes.
Net durable liquidity in the system stood at a surplus of ₹4,86,400.00 crore as on May 31, 2026. Additionally, the Government of India’s surplus cash balance reckoned for auction was ₹1,41,171.00 crore. For example, such surplus conditions typically ease short-term borrowing costs across the banking sector.
Source: RBI Press Releases
