India’s money market operations on September 24, 2026, showed active liquidity management by the Reserve Bank of India. The RBI absorbed a net ₹2,63,274 crore from today’s operations alone, signalling a clear surplus liquidity environment. Overall, the overnight segment recorded a total volume of ₹7,46,294.77 crore.
Key Details of RBI Money Market Operations
The overnight segment’s weighted average rate stood at 5.08%, ranging between 3.85% and 5.40%. Call Money traded at a weighted average of 5.12%, while Triparty Repo dominated volumes at ₹5,40,980.80 crore. Additionally, Market Repo contributed ₹1,78,322.68 crore, and Repo in Corporate Bond added ₹7,075 crore at a rate of 5.24%.
In the term segment, activity remained limited. Notice Money saw a volume of ₹127 crore at 5.03%, and Term Money recorded just ₹20 crore. Term Triparty Repo stood at ₹161.50 crore with a weighted average of 5.17%. However, Term Market Repo and Corporate Bond Repo saw zero transactions for the day.
On the RBI operations front, the Variable Rate Reverse Repo absorbed ₹1,01,399 crore at 5.24% on a one-day tenor. Meanwhile, the Marginal Standing Facility (MSF) extended ₹34 crore at 5.50%, and the Standing Deposit Facility (SDF) absorbed ₹1,61,909 crore at 5.00%. As a result, the net liquidity absorbed from today’s operations reached ₹2,63,274 crore.
Liquidity Position and Reserve Status
Outstanding operations added further context to the liquidity picture. Variable Rate Reverse Repo operations from September 7 and September 11, 2026, totalled ₹1,68,225 crore. Therefore, the net outstanding liquidity absorption stood at ₹1,63,979.24 crore, including the Standing Liquidity Facility of ₹4,245.76 crore availed from the RBI.
Combining today’s and outstanding operations, the RBI absorbed a net ₹4,27,253.24 crore overall. This reflects a firmly surplus system. Scheduled commercial banks held cash balances of ₹8,20,156.38 crore with the RBI as of September 24, 2026, against an average daily requirement of ₹8,21,989 crore for the fortnight ending September 30, 2026.
Additionally, net durable liquidity as of August 31, 2026, recorded a surplus of ₹10,66,303 crore. The Government of India’s surplus cash balance reckoned for auction was nil on this date. These figures confirm that the banking system continues to operate with ample liquidity buffers.
Source: RBI Press Releases
