The Reserve Bank of India released its money market operations data for June 28, 2026. The RBI money market operations report shows zero activity across all overnight and term segments on this date, which fell on a Sunday.
Key Details from RBI Money Market Operations
All overnight segments recorded zero volume on June 28. These include Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond. Similarly, the Term Segment showed no transactions across any instrument. However, the RBI did conduct Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) operations during the day.
The MSF recorded ₹551 crore at a rate of 5.50%. Meanwhile, the SDF absorbed a significantly larger ₹1,23,227 crore at 5.00%. As a result, the net liquidity absorbed from today’s operations stood at ₹1,22,676 crore, indicating a clear absorption stance by the central bank.
Outstanding Operations and Overall Liquidity Position
Outstanding variable rate repo operations remain active from earlier dates. A ₹16,800 crore repo from June 25 and a ₹1,41,171 crore repo from June 23 are both maturing on or before June 30. Additionally, the Standing Liquidity Facility (SLF) availed from RBI stood at ₹10,754.89 crore.
Therefore, net liquidity injected from all outstanding operations reached ₹1,64,238.89 crore. Including today’s absorption, the overall net liquidity position stood at a surplus of ₹41,562.89 crore. This reflects a well-managed but cautious liquidity environment ahead of the quarter-end.
Scheduled commercial banks held cash balances of ₹8,09,557.54 crore with the RBI as on June 28. The average daily cash reserve requirement for the fortnight ending June 30 was ₹8,01,069 crore. For example, banks comfortably met their CRR obligations, with balances exceeding the requirement. Net durable liquidity as on May 31, 2026 remained in surplus at ₹4,86,400 crore.
What This Means for the Banking Sector
The data confirms that the banking system continues to operate in a liquidity surplus. However, the large SDF absorption signals that the RBI is actively managing excess liquidity. This approach helps keep short-term rates anchored close to the policy corridor. Overall, the RBI money market operations data reflects a stable and well-calibrated liquidity framework for Indian banks.
Source: RBI Press Releases
