Document title: Money Market Operations as on August 15, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/908
Date: August 17, 2026
Policy Rates and Liquidity
The RBI’s liquidity operations for the day of August 15, 2026 recorded a net absorption of ₹2,29,152.00 crore from today’s activities. Including outstanding operations, the cumulative net liquidity injected turned negative, amounting to a total absorption of ₹3,95,939.58 crore. The Marginal Standing Facility (MSF) was utilised on Saturday, 15 August 2026 for a one‑day tenor, injecting ₹2,29,043.00 crore at a rate of 5.50%. The Standing Deposit Facility (SDF) was operated on the same day for a two‑day tenor, absorbing ₹450.00 crore at 5.00%, and on a one‑day tenor absorbing ₹283.00 crore at 5.00%.
Banking and Credit
Cash reserves of scheduled commercial banks as of 15 August 2026 stood at ₹7,79,964.68 crore. The average daily cash reserve requirement for the fortnight ending 15 August 2026 was slightly higher at ₹8,03,001.00 crore, indicating a modest surplus in cash holdings. Net durable liquidity, defined as surplus minus deficit, was reported at ₹6,79,145.00 crore as of 31 July 2026. The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹9,910.42 crore.
Money Market Activity
All segments of the overnight and term money markets recorded zero transaction volumes on 15 August 2026. Specifically, there were no call money, triparty repo, market repo, or corporate bond repo operations in the overnight segment, and similarly no notice money, term money, or related repo activities in the term segment. Consequently, the weighted average rates and ranges for these segments are marked as not applicable.
The document underscores a pronounced liquidity tightening stance by the RBI, with substantial net absorption across both today’s and outstanding operations, zero market activity, and active use of MSF and SDF facilities at prevailing policy rates.