Document title: Money Market Operations as on July 26, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release: 2026-2027/759
Date: July 27, 2026
Policy Rates and Liquidity
On July 26, 2026 the RBI conducted a Marginal Standing Facility (MSF) operation for a one‑day tenor, injecting ₹148.00 crore at a rate of 5.50 %. In the same session a Standing Deposit Facility (SDF) operation injected ₹1,75,530.00 crore at a rate of 5.00 % for a one‑day tenor. The net liquidity injected from today’s operations was –₹1,75,382.00 crore, indicating net absorption.
Outstanding operations included a repo operation dated Mon 20/07/2026 with a seven‑day tenor, amounting to ₹72,051.00 crore at 5.26 %. MSF outstanding on 25/07/2026 and 24/07/2026 were zero. SDF outstanding amounts were ₹120.00 crore (25/07/2026) and ₹3,509.00 crore (24/07/2026) at 5.00 %. Net liquidity injected from outstanding operations was ₹81,401.66 crore, and the combined net liquidity (including today’s operations) amounted to –₹93,980.34 crore.
Banking and Credit
Cash reserves of scheduled commercial banks as on July 26, 2026 were ₹8,09,646.03 crore. The average daily cash reserve requirement for the fortnight ending July 31, 2026 stood at ₹8,15,720.00 crore.
Financial Stability and Inclusion
The Government of India surplus cash balance reckoned for auction showed a net durable liquidity surplus of ₹4,99,485.00 crore as on July 24, 2026 (and June 30, 2026). The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹12,979.66 crore.
Overall, the RBI’s money market operations on July 26, 2026 reflected a substantial net liquidity absorption of roughly ₹94,000 crore, with no activity recorded in the overnight and term market segments, while banks maintained cash reserves near ₹8.1 trillion and the government retained a surplus of about ₹5 trillion.