Document title: Money Market Operations as on November 08, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference: Press Release 2026-2027/1469
Date: 09 November 2026
Policy Rates and Liquidity
The RBI’s Marginal Standing Facility (MSF) operation on 08 November 2026 carried a one‑day tenor, maturing on 09 November 2026, with an amount of ₹3,237.00 crore at a rate of 5.75%. The Standing Deposit Facility (SDF) on the same day also had a one‑day tenor, maturing on 09 November 2026, with an amount of ₹1,50,425.00 crore at a rate of 5.25%.
Net liquidity injected from today’s operations was a negative ₹1,47,188.00 crore, indicating liquidity absorption. Outstanding reverse‑repo operations as of 06 November 2026 had a three‑day tenor, maturing on 09 November 2026, with an amount of ₹18,133.00 crore at a rate of 5.49%. Outstanding MSF positions included ₹3,000.00 crore (tenor 2 days) and ₹0.00 crore (tenor 3 days), both at 5.75%, while outstanding SDF positions were ₹2,357.00 crore (tenor 2 days) and ₹524.00 crore (tenor 3 days), both at 5.25%. The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹10,306.87 crore. Net liquidity injected from outstanding operations was a negative ₹7,707.13 crore, and the combined net liquidity injection (including today’s operations) was a negative ₹1,54,895.13 crore.
Banking and Credit
Cash reserves of scheduled commercial banks as on 08 November 2026 stood at ₹8,45,958.05 crore. The average daily cash reserve requirement for the fortnight ending 15 November 2026 was ₹8,16,655.00 crore. The Government of India’s surplus cash balance reckoned for auction as on 06 November 2026 was zero. Net durable liquidity as on 15 October 2026 was reported at ₹7,93,409.00 crore.
Financial Stability and Inclusion
The overall liquidity position reflected a substantial net absorption of ₹1,54,895.13 crore when combining today’s and outstanding operations, indicating a tightening of liquidity in the system. The use of the SLF and the levels of cash reserves suggest the RBI’s ongoing management of liquidity to maintain financial stability.
The document provides a detailed snapshot of money market operations, liquidity facilities, and reserve positions as of early November 2026, highlighting the RBI’s active role in managing short‑term liquidity and cash reserve requirements.