The Reserve Bank of India (RBI) released its money market operations data for October 10, 2026. The report shows zero activity across all overnight and term money market segments. However, key RBI liquidity operations during the day revealed significant absorption from the banking system.
RBI Money Market Operations: Key Details
On October 10, 2026, all overnight segments recorded zero volume. These include Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond. Additionally, the Term Segment — covering Notice Money, Term Money, and related instruments — also reported no transactions for the day.
The RBI conducted Marginal Standing Facility (MSF) operations worth ₹381 crore at a rate of 5.75%. Meanwhile, the Standing Deposit Facility (SDF) saw a substantial deposit of ₹1,39,360 crore at 5.25%. As a result, the net liquidity absorbed from today’s operations stood at ₹1,38,979 crore.
What This Means for the Banking System
Outstanding operations added further weight to the liquidity picture. Variable Rate Reverse Repo operations from previous days totalled over ₹2,37,000 crore across multiple tenors. For example, a 29-day reverse repo auction from October 8 absorbed ₹79,655 crore at 5.49%.
Therefore, the net liquidity injected from all outstanding operations — including today’s — stood at a net absorption of ₹3,76,435.90 crore. This signals a tight liquidity stance by the RBI as it manages system-level money supply carefully.
Scheduled Commercial Banks held cash balances of ₹7,86,097.56 crore with the RBI as on October 10, 2026. However, the average daily cash reserve requirement for the fortnight ending October 15, 2026, was higher at ₹8,17,219 crore. Additionally, net durable liquidity stood at a surplus of ₹13,93,819 crore as on September 15, 2026, reflecting comfortable medium-term conditions.
Government Cash Balance and Outlook
The Government of India’s surplus cash balance reckoned for auction stood at zero as on October 9, 2026. This suggests that government funds were fully deployed. Overall, the RBI money market data points to continued active liquidity management ahead of the October 15 reserve fortnight close.
Analysts will closely watch upcoming RBI operations for signals on the central bank’s short-term liquidity strategy in the weeks ahead.
Source: RBI Press Releases
