Document title: Money Market Operations as on August 09, 2026
Issuing authority: Reserve Bank of India
Reference: Press Release: 2026-2027/850
Date: 09 August 2026
Policy Rates and Liquidity
The RBI conducted today’s liquidity operations on 08‑08‑2026, offering a Standing Deposit Facility (SDF) of ₹2,24,228.00 crore at a rate of 5.00% and a Marginal Standing Facility (MSF) of ₹32.00 crore at 5.50% for a one‑day tenor maturing on 09‑08‑2026. These operations resulted in a net liquidity absorption of ₹2,24,196.00 crore.
Outstanding operations as of 06‑08‑2026 include a reverse repo of ₹1,30,286.00 crore at 5.24% with a four‑day tenor, maturing on 10‑08‑2026, and a small SDF of ₹5,463.00 crore at 5.00% for a three‑day tenor, also maturing on 10‑08‑2026. The net liquidity absorbed from outstanding operations is ₹1,24,575.34 crore.
The Standing Liquidity Facility (SLF) availed from the RBI amounts to ₹10,594.66 crore. Combining today’s and outstanding operations, the total net liquidity injected (i.e., absorbed) stands at a deficit of ₹3,48,771.34 crore.
Banking and Credit
Cash reserves of scheduled commercial banks as of 09 August 2026 total ₹7,84,972.59 crore. The average daily cash reserve requirement for the fortnight ending 15 August 2026 is projected at ₹8,03,001.00 crore. The Government of India’s surplus cash balance for auction purposes is nil. Net durable liquidity, representing the surplus or deficit of overall liquidity, is recorded at ₹5,36,080.00 crore as of 15 July 2026.
Financial Stability and Inclusion
The substantial net liquidity absorption indicated by the combined operations reflects a tightening stance by the RBI, aimed at managing excess liquidity in the system. The high level of cash reserves held by scheduled banks, together with the durable liquidity surplus, suggests that the banking sector remains well‑capitalised despite the liquidity withdrawal.
Overall, the RBI’s August 9, 2026 money market operations demonstrate a concerted effort to withdraw approximately ₹3.49 trn of liquidity through SDF, reverse repo, and other facilities, while maintaining robust cash reserve positions across scheduled commercial banks.