Document title: Money Market Operations as on October 31, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/1421
Date: November 02, 2026
Policy Rates and Liquidity
The RBI’s Liquidity Adjustment Facility (LAF) operations on 31 October 2026 included a Marginal Standing Facility (MSF) injection of ₹24,614.00 crore at a rate of 5.75% for a one‑day tenor (settling on 1 November 2026) and a further ₹220.00 crore for a two‑day tenor (settling on 2 November 2026) at the same rate. The Standing Deposit Facility (SDF) saw a larger injection of ₹1,84,733.00 crore at 5.25% for a one‑day tenor (settling on 1 November 2026) and an additional ₹2,640.00 crore for a two‑day tenor (settling on 2 November 2026) at 5.25%. Net liquidity injected from today’s operations was recorded as a negative ₹1,62,539.00 crore, indicating overall liquidity absorption. Outstanding operations contributed a further net absorption of ₹11,535.13 crore, bringing the cumulative net liquidity injected (including today’s operations) to –₹1,74,074.13 crore.
Money Market Activity
In the overnight segment (covering tenors I‑IV), total one‑leg volume amounted to ₹43,611.60 crore with a weighted average rate of 5.58% and a rate range of 4.50‑6.00%. The Call Money sub‑segment contributed ₹4,045.25 crore at an average rate of 5.63% (range 4.70‑5.75%). Triparty Repo accounted for the bulk of activity with ₹35,023.15 crore at a weighted average rate of 5.57% (range 5.00‑5.80%). Market Repo added ₹4,543.20 crore at an average rate of 5.61% (range 4.50‑6.00%). No activity was recorded in the Repo in Corporate Bond sub‑segment.
In the term segment, Notice Money transactions amounted to ₹40.00 crore at an average rate of 5.19% (range 5.15‑5.20%). Term Money was nil. A small Triparty Repo operation of ₹10.00 crore was executed at a flat rate of 6.00% (range 6.00‑6.00%). No activity was observed in Market Repo or Repo in Corporate Bond for the term segment.
Outstanding reverse‑repo operations as of 8 October 2026 involved a 29‑day tenor amounting to ₹25,555.00 crore at a rate of 5.49%, maturing on 6 November 2026. Outstanding MSF operations as of 30 October 2026 showed a zero amount for the two‑day tenor and ₹4,300.00 crore for the three‑day tenor, both at 5.75%. Outstanding SDF operations as of the same date recorded zero for the two‑day tenor and ₹587.00 crore for the three‑day tenor at 5.25%. The Standing Liquidity Facility (SLF) availed from the RBI stood at ₹10,306.87 crore.
Banking Liquidity Position
Cash reserves of scheduled commercial banks as on 31 October 2026 were ₹8,64,604.71 crore, while the average daily cash reserve requirement for the fortnight ending that date was ₹8,33,309.00 crore. The Government of India’s surplus cash balance reckoned for auction as on 30 October 2026 was nil. Net durable liquidity, representing the surplus after accounting for reserve requirements, was reported at ₹7,93,409.00 crore as of 15 October 2026.
Overall, the RBI’s operations on 31 October 2026 reflected a substantial net withdrawal of liquidity from the system, with key money‑market rates remaining within narrow bands and cash‑reserve positions of banks remaining robust.