Document title: Money Market Operations as on September 27, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/1200
Date: September 28, 2026
Policy Rates and Liquidity
The RBI conducted its Marginal Standing Facility (MSF) operation on Sunday, 27 September 2026, offering a one‑day tenor at a rate of 5.50% for a total amount of ₹10,288.00 crore. In the same session, the Standing Deposit Facility (SDF) was operated at a rate of 5.00% for ₹2,08,457.00 crore. Net liquidity injected from today’s operations was a negative ₹1,98,169.00 crore, indicating overall absorption.
Outstanding Operations
Repo and reverse‑repo operations outstanding as of the reporting date include: a reverse‑repo of ₹90,280.00 crore placed on Friday, 25 September 2026 for a three‑day tenor, priced at 5.24%; and two repo operations placed on Friday, 11 September 2026 (26‑day tenor) and Monday, 07 September 2026 (30‑day tenor) for amounts of ₹39,449.00 crore and ₹1,13,676.00 crore respectively, both priced at 5.24%. Additional MSF and SDF outstanding amounts were ₹154.00 crore (MSF) and ₹2,311.00 crore (SDF) from the 25 September operation, each at their respective rates.
Net Liquidity Summary
Aggregating today’s and outstanding operations, the net liquidity injected (injection + / absorption –) amounts to a total absorption of ₹4,39,485.24 crore. This figure reflects the combined effect of repo, reverse‑repo, MSF, SDF and Standing Liquidity Facility (SLF) activities.
Reserve Position
Cash reserves of scheduled commercial banks with the RBI were ₹8,41,098.18 crore as of 27 September 2026. The average daily cash reserve requirement (CRR) for the fortnight ending 30 September 2026 was ₹8,21,989.00 crore. The Government of India’s surplus cash balance for auction purposes was nil as of 25 September 2026. Net durable liquidity, representing surplus or deficit, stood at a surplus of ₹10,66,303.00 crore as of 31 August 2026.
Standing Liquidity Facility (SLF)
Banks availed SLF facilities amounting to ₹4,245.76 crore during the reporting period.
Overall, the RBI’s money market operations for the day reflected a net withdrawal of liquidity from the system, with active use of MSF, SDF and SLF facilities and a substantial repo‑reverse‑repo balance at a uniform rate of 5.24%.