Document title: Money Market Operations as on October 12, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/1316
Date: October 13, 2026
Policy Rates and Liquidity
The RBI conducted a reverse repo operation on 12 Oct 2026 for a tenor of 3 days, injecting ₹37,558.00 cr at a rate of 5.49%. The Marginal Standing Facility (MSF) was used for a 1‑day tenor, injecting ₹6.00 cr at 5.75%. The Standing Deposit Facility (SDF) was availed for a 1‑day tenor, injecting ₹2,06,081.00 cr at 5.25%. Net liquidity injected from today’s operations amounted to a withdrawal of ₹2,43,633.00 cr. Outstanding reverse repo operations include a 10‑day tenor on 09 Oct 2026 amounting to ₹18,170.00 cr at 5.49% and a 29‑day tenor on 08 Oct 2026 amounting to ₹77,655.00 cr at 5.49%. Net liquidity absorbed from outstanding operations was ₹92,267.90 cr, resulting in an overall net liquidity absorption of ₹3,35,900.90 cr when combined with today’s operations. The Standing Liquidity Facility (SLF) was availed for ₹3,557.10 cr.
Banking and Credit
Cash reserves of scheduled commercial banks as on 12 Oct 2026 stood at ₹8,01,723.05 cr. The average daily cash reserve requirement for the fortnight ending 15 Oct 2026 was ₹8,17,219.00 cr, indicating a slight excess of reserves over the statutory requirement.
Money Market Activity
The overnight segment recorded a total volume of ₹7,21,635.48 cr with a weighted average rate of 5.35% and a rate range of 4.05‑6.20%. Breakdown: Call Money volume was ₹16,197.76 cr at 5.41% (range 4.75‑5.50%); Triparty Repo volume was ₹5,14,009.40 cr at 5.33% (range 4.75‑5.50%); Market Repo volume was ₹1,85,474.67 cr at 5.39% (range 4.05‑5.55%); Repo in Corporate Bond volume was ₹5,953.65 cr at 5.50% (range 5.45‑6.20%). In the term segment, Notice Money carried a rate of 5.31% on a volume of ₹298.60 cr (range 5.10‑5.50%); Term Money volume was ₹965.00 cr with rates between 5.55‑6.70%; Triparty Repo volume was ₹3,065.00 cr at 5.33% (range 5.25‑5.40%); Market Repo volume was ₹1,213.62 cr at 5.53% (range 5.50‑5.60%); Repo in Corporate Bond was nil.
Government Liquidity Position
The Government of India’s surplus cash balance for auction as on 12 Oct 2026 was zero. Net durable liquidity showed a surplus of ₹13,93,819.00 cr as of 15 Sep 2026.
Overall, the RBI’s operations on 12 Oct 2026 resulted in a substantial net liquidity absorption of over ₹2.4 lakh crore, with cumulative liquidity still negative when accounting for outstanding positions. Bank cash reserves remain comfortably above required levels, and money market rates continued to trade within narrow bands, reflecting stable market conditions.