The Reserve Bank of India released its money market operations data for September 25, 2026, revealing key liquidity trends across overnight and term segments. The figures highlight a significant net absorption of funds by the RBI on that day.
Key Details of Money Market Operations
The overnight segment recorded a total volume of ₹7,22,052.74 crore. The weighted average rate stood at 5.10%, with rates ranging between 4.00% and 5.50%. Call Money alone accounted for ₹13,110.64 crore at a weighted average rate of 5.20%.
Triparty Repo dominated the overnight segment, contributing ₹5,07,385.95 crore at 5.11%. Additionally, Market Repo added ₹1,94,321.75 crore, while Repo in Corporate Bond contributed ₹7,234.40 crore at 5.23%. These figures indicate healthy short-term borrowing activity across the banking system.
The term segment remained comparatively thin. However, Repo in Corporate Bond under this segment attracted attention, trading at a notably high rate of 8.00% on a volume of ₹50 crore.
RBI Liquidity Operations and Reserve Position
The RBI absorbed a net ₹3,11,826 crore from today’s operations alone. As a result, the Standing Deposit Facility (SDF) saw combined deposits of ₹2,21,744 crore across tenors of one to three days at 5.00%. Meanwhile, the Marginal Standing Facility (MSF) recorded borrowings of ₹198 crore at 5.50%.
The Variable Rate Reverse Repo operation absorbed ₹90,280 crore at a cut-off rate of 5.24% for a three-day tenor. Therefore, the net liquidity absorbed from outstanding operations reached ₹1,48,879.24 crore. Including today’s operations, the total net liquidity absorption stood at ₹4,60,705.24 crore.
On the reserve front, scheduled commercial banks held cash balances of ₹8,27,985 crore with the RBI as on September 25, 2026. The average daily cash reserve requirement for the fortnight ending September 30, 2026 was ₹8,21,989 crore. Additionally, net durable liquidity remained in a surplus of ₹10,66,303 crore as on August 31, 2026, reflecting comfortable systemic liquidity conditions overall.
For example, the Government of India surplus cash balance reckoned for auction on this date was nil. This suggests the government drew down its RBI balances fully. These money market operations data points are crucial for banks and investors tracking short-term rate movements in India.
Read the official RBI press release here.
Source: RBI Press Releases
