India’s money market operations on October 14, 2026, showed significant activity across overnight and term segments. The Reserve Bank of India (RBI) reported total overnight segment volume at ₹6,88,424.63 crore. The weighted average rate for this segment stood at 5.55 per cent, with rates ranging from 4.50 to 5.90 per cent.
Key Details of RBI Money Market Operations
The overnight segment comprised four major components. Call Money recorded a volume of ₹15,293.55 crore at a weighted average rate of 5.52 per cent. Additionally, Triparty Repo dominated with ₹4,74,688.50 crore at 5.58 per cent. Market Repo followed closely with ₹1,93,281.93 crore, while Repo in Corporate Bond contributed ₹5,160.65 crore.
The term segment also saw active participation. Notice Money recorded ₹278.00 crore at 5.39 per cent. Meanwhile, Term Triparty Repo stood at ₹2,372.00 crore at 5.62 per cent. Term Market Repo added ₹1,092.36 crore, with rates ranging between 5.25 and 6.00 per cent.
RBI Liquidity Operations and Reserve Position
The RBI absorbed liquidity aggressively through its Liquidity Adjustment Facility (LAF) on October 14, 2026. The Standing Deposit Facility (SDF) absorbed ₹1,05,429.00 crore at 5.25 per cent. However, the Marginal Standing Facility (MSF) injected ₹1,697.00 crore at 5.75 per cent. As a result, the net liquidity from today’s operations showed an absorption of ₹1,29,265.00 crore.
Outstanding reverse repo operations also reflected strong absorption. Three tranches of variable rate reverse repo totalled over ₹1,31,383.00 crore. Therefore, net liquidity from outstanding operations stood at a deficit of ₹1,27,250.90 crore. Combined, the total net liquidity position showed an absorption of ₹2,56,515.90 crore.
On the reserve front, scheduled commercial banks held ₹8,00,996.09 crore as cash balances with the RBI on October 14, 2026. The average daily cash reserve requirement for the fortnight ending October 15, 2026, was ₹8,17,219.00 crore. Additionally, net durable liquidity as of September 15, 2026, remained in surplus at ₹13,93,819.00 crore. The Government of India’s surplus cash balance reckoned for auction stood at zero on this date.
These figures indicate the RBI continues to manage short-term liquidity carefully. For example, the SDF rate at 5.25 per cent acts as a floor for overnight money market rates. Overall, the RBI money market operations reflect a calibrated approach to systemic liquidity management.
Source: RBI Press Releases
