The Reserve Bank of India (RBI) released its RBI money market operations data for September 27, 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 actively in use.
Key Details of RBI Money Market Operations
On September 27, 2026, all overnight segments recorded zero volume. These included Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bonds. Additionally, the term segment — covering Notice Money, Term Money, and related instruments — also reported no transactions for the day.
Under the RBI’s liquidity framework, banks accessed the Marginal Standing Facility (MSF) for ₹10,288 crore at a rate of 5.50%. Meanwhile, the Standing Deposit Facility (SDF) absorbed a significant ₹2,08,457 crore at 5.00%. As a result, the net liquidity impact from today’s operations stood at a net absorption of ₹1,98,169 crore.
Liquidity Position and Reserve Data
Outstanding variable rate reverse repo operations totalled over ₹2,43,405 crore across multiple tenors, all at a cut-off rate of 5.24%. Therefore, the net liquidity absorbed from outstanding operations reached ₹2,41,316.24 crore. Combined with today’s operations, the total net liquidity absorption stood at ₹4,39,485.24 crore.
Scheduled commercial banks held cash balances of ₹8,41,098.18 crore with the RBI as on September 27, 2026. For example, the average daily Cash Reserve Requirement for the fortnight ending September 30, 2026 was ₹8,21,989 crore. Banks’ actual balances, therefore, comfortably exceeded the requirement.
Net durable liquidity in the system stood at a surplus of ₹10,66,303 crore as on August 31, 2026. Additionally, the Government of India’s surplus cash balance for auction purposes was nil as on September 25, 2026. This reflects the RBI’s continued focus on managing system-wide liquidity effectively.
What This Means for Banking Customers
The elevated SDF absorption indicates that the RBI is actively withdrawing surplus liquidity from the banking system. However, the large cash balances held by banks suggest the system remains well-funded. As a result, short-term borrowing costs are unlikely to spike for retail or corporate borrowers in the near term.
Overall, the RBI money market operations data reflects a system operating with ample liquidity but under careful central bank oversight. Readers can refer to the official RBI press release for full details.
Source: RBI Press Releases
