Money Market Operations as on July 05, 2026

Issuing Authority: Reserve Bank of India

Reference Number: Press Release 2026-2027/613

Date: July 06, 2026

Policy Rates and Liquidity

The RBI conducted its daily liquidity operations on July 5 2026. The Marginal Standing Facility (MSF) was available for one day at a rate of 5.50% with an amount of ₹45.00 crore. The Standing Deposit Facility (SDF) injected ₹1,89,324.00 crore at a rate of 5.00% for the same day. Net liquidity injected from today’s operations was a net absorption of ₹1,89,279.00 crore.

Outstanding liquidity operations included:

  • MSF on July 4 2026 (2‑day tenor) amounting to ₹15.00 crore at 5.50%.
  • MSF on July 3 2026 (3‑day tenor) amounting to ₹0.00 crore at 5.50%.
  • SDF on July 4 2026 (2‑day tenor) amounting to ₹5,210.00 crore at 5.00%.
  • SDF on July 3 2026 (3‑day tenor) amounting to ₹1,493.00 crore at 5.00%.

Net liquidity injected from outstanding operations was ₹4,380.82 crore. Combining today’s and outstanding operations, the overall net liquidity injected (including absorption) was a net outflow of ₹1,84,898.18 crore.

The Standing Liquidity Facility (SLF) availed from the RBI stood at ₹11,068.82 crore.

Banking and Credit

Cash reserves of scheduled commercial banks as of July 5 2026 were ₹7,92,864.48 crore. The average daily cash reserve requirement for the fortnight ending July 15 2026 was ₹7,98,115.00 crore. Net durable liquidity, representing the surplus after accounting for cash reserve requirements, was ₹4,82,130.00 crore as of June 15 2026.

Financial Stability and Inclusion

The liquidity positions reflected by the MSF, SDF, and SLF operations, together with the substantial cash reserve balances of banks, indicate the RBI’s ongoing management of short‑term liquidity in the money market. The net absorption of liquidity of ₹1,84,898.18 crore suggests a tightening stance for the day, while the overall cash reserve levels remain robust relative to the required thresholds.

Overall, the RBI’s money market operations on July 5 2026 resulted in a significant net liquidity outflow, with high cash reserve balances maintained by scheduled commercial banks, underscoring the central bank’s active liquidity management.