Document title: RBI Money Market Operations as on July 04, 2026
Issuing authority: Reserve Bank of India
Reference: Press Release 2026-2027/612
Date: July 06, 2026
Policy rates and liquidity
The RBI’s overnight segment recorded a weighted average rate of 4.88 % with a range of 4.00‑5.60 %. The Marginal Standing Facility (MSF) was priced at 5.50 % for the two tenors auctioned on 4 July (one‑day) and 5 July (two‑day). The Standing Deposit Facility (SDF) was offered at 5.00 % for a one‑day amount of ₹1,74,396 crore and a two‑day amount of ₹5,210 crore. Net liquidity injected from today’s operations amounted to a withdrawal of ₹1,79,583 crore. Outstanding operations contributed a net injection of ₹9,575.82 crore, resulting in an overall net liquidity outflow of ₹1,70,007.18 crore when today’s and outstanding operations are combined.
Banking and credit
Scheduled commercial banks held cash balances with the RBI of ₹8,07,768.39 crore as of 4 July 2026. The average daily cash reserve requirement for the fortnight ending 15 July 2026 was ₹7,98,115 crore. Net durable liquidity stood at a surplus of ₹4,82,130 crore as of 15 June 2026.
Capital markets and flows
The total volume in the overnight money‑market segment (including Call Money, Triparty Repo and Market Repo) was ₹13,837.39 crore, with Call Money contributing ₹744.55 crore at 4.88 % (range 4.50‑5.15 %) and Triparty Repo ₹11,764.90 crore at 4.88 % (range 4.00‑5.14 %). Market Repo accounted for ₹1,327.94 crore at a weighted rate of 4.84 % (range 4.01‑5.60 %). No transactions were recorded in the corporate‑bond repo segment. In the term segment, Notice Money volume was ₹3.35 crore at a flat rate of 4.85 %.
The RBI’s July 4 money‑market operations indicate a tightening of net liquidity, with a sizeable outflow of over ₹1.70 lakh crore, while maintaining stable policy rates and ample cash reserves in the banking system.