The Reserve Bank of India (RBI) released its RBI money market operations data for September 26, 2026. The report shows zero activity across all overnight and term money market segments on this date. However, the RBI’s liquidity management tools remained active, with significant absorption recorded through the Standing Deposit Facility (SDF).
Key Details of RBI Money Market Operations
On September 26, 2026, all overnight segments — including Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond — recorded zero volume. Additionally, all term segment instruments reported no transactions. As a result, weighted average rates and ranges were not applicable for the day.
For today’s operations, the RBI conducted Marginal Standing Facility (MSF) lending of ₹32 crore at 5.50% for a one-day tenor. Meanwhile, the Standing Deposit Facility absorbed a substantial ₹1,82,306 crore at 5.00% for a one-day tenor. Therefore, net liquidity injected from today’s operations stood at a net absorption of ₹1,82,274 crore.
Liquidity Position and Reserve Status
Outstanding variable rate reverse repo operations showed three tranches totalling ₹2,43,405 crore at a cut-off rate of 5.24%. These operations span maturities extending to October 7, 2026. Additionally, the Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹4,245.76 crore.
The net liquidity injected from all outstanding operations showed a net absorption of ₹2,42,617.24 crore. Including today’s transactions, total net liquidity absorption reached ₹4,24,891.24 crore. This reflects the RBI’s continued effort to manage surplus liquidity in the banking system.
On the reserve front, scheduled commercial banks held cash balances of ₹8,63,392.68 crore with the RBI as on September 26, 2026. The average daily cash reserve requirement for the fortnight ending September 30, 2026 stood at ₹8,21,989 crore. Furthermore, net durable liquidity as on August 31, 2026 remained in a healthy surplus of ₹10,66,303 crore.
What This Means for Banking Customers
The large SDF absorption signals that the RBI is actively managing excess liquidity. However, the robust durable liquidity surplus suggests the banking system remains well-funded. For everyday banking customers, this means stable lending conditions and no immediate pressure on interest rates. Overall, the RBI money market operations data points to a measured and calibrated liquidity stance.
Source: RBI Press Releases
