Document title: Money Market Operations as on August 20, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/935
Date: 21 August 2026
Policy Rates and Liquidity
The RBI’s Liquidity Adjustment Facility (LAF) operations on 20 August 2026 included a reverse repo of ₹1,00,032.00 crore and a repo of ₹50,013.00 crore, both with a one‑day tenor and a rate of 5.24%. The Marginal Standing Facility (MSF) was accessed for ₹43.00 crore at a rate of 5.50%, while the Standing Deposit Facility (SDF) absorbed ₹1,10,597.00 crore at a rate of 5.00%. The net liquidity injected from today’s operations was a negative ₹2,60,599.00 crore, indicating liquidity absorption. In the outstanding operations window, a reverse repo dated 17 August 2026 with a seven‑day tenor amounted to ₹98,945.00 crore at 5.24%. The Standing Liquidity Facility (SLF) availed from the RBI stood at ₹9,486.06 crore. Net liquidity injected from outstanding operations was a negative ₹89,458.94 crore, leading to an overall net liquidity injection (including today’s operations) of negative ₹3,50,057.94 crore.
Market Activity – Overnight and Term Segments
In the overnight segment (including sub‑segments I‑IV), total one‑leg volume reached ₹6,43,139.41 crore with a weighted average rate of 5.05% and a rate range of 2.45‑5.65%. Call money contributed ₹15,676.67 crore at 5.16% (range 4.60‑5.20%). Triparty repo accounted for ₹4,41,475.00 crore at 5.05% (range 4.90‑5.32%). Market repo added ₹1,79,010.04 crore at 5.01% (range 2.45‑5.65%). Repo in corporate bonds amounted to ₹6,977.70 crore at 5.28% (range 5.20‑5.40%).
In the term segment, notice money volume was ₹515.55 crore at 5.13% (range 4.80‑5.30%). Term money volume stood at ₹799.50 crore with a rate range of 5.50‑6.40% (rate not disclosed). Triparty repo volume was ₹885.00 crore at 5.16% (range 5.05‑5.25%). Market repo volume was ₹1,150.43 crore at 5.27% (range 5.25‑5.40%). No repo in corporate bonds was recorded in the term segment.
Banking and Credit
Scheduled commercial banks held cash balances with the RBI of ₹8,06,927.37 crore as of 20 August 2026. The average daily cash reserve requirement for the fortnight ending 31 August 2026 was ₹8,17,404.00 crore, indicating the liquidity position of the banking system.
Government Cash Position
The Government of India’s surplus cash balance, reckoned for auction, was ₹6,79,145.00 crore as of 20 August 2026 (and similarly on 31 July 2026).
Overall, the RBI’s operations on 20 August 2026 reflected a substantial net liquidity absorption of ₹3,50,058 crore, supported by active repo and reverse repo transactions, utilization of the MSF and SDF, and a high level of cash reserves in the banking sector. This indicates a tightening stance in the short‑term money market while maintaining adequate liquidity buffers in the system.