Document title: Money Market Operations as on August 22, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/953
Date: August 24, 2026
Policy Rates and Liquidity
The RBI conducted Marginal Standing Facility (MSF) operations on Saturday, 22 August 2026 for a one‑day tenor, injecting ₹4,413.00 crore at a rate of 5.50%. A second MSF operation for a two‑day tenor on the same day injected no amount. Standing Deposit Facility (SDF) operations on 22 August 2026 injected ₹1,60,047.00 crore for a one‑day tenor at 5.00% and zero for a two‑day tenor. Net liquidity injected from today’s operations was a withdrawal of ₹1,55,634.00 crore.
Outstanding operations as of 21 August 2026 showed a reverse repo of ₹95,970.00 crore (3‑day tenor) and ₹98,945.00 crore (7‑day tenor) both at 5.24% rate, maturing on 24 August 2026. Outstanding MSF amounts were zero for a two‑day tenor and ₹55.00 crore for a three‑day tenor, each at 5.50%. Outstanding SDF amounts were ₹60.00 crore (2‑day) and ₹1,357.00 crore (3‑day) at 5.00%. Net liquidity absorbed from outstanding operations was ₹1,86,790.94 crore, leading to a cumulative net liquidity absorption of ₹3,42,424.94 crore when today’s operations are included.
Banking and Credit
Cash reserves of scheduled commercial banks as on 22 August 2026 amounted to ₹7,90,665.00 crore. The average daily cash reserve requirement for the fortnight ending 31 August 2026 was ₹8,17,404.00 crore. The Government of India’s surplus cash balance reckoned for auction as on 21 August 2026 was zero. Net durable liquidity, representing surplus or deficit, stood at a surplus of ₹6,79,145.00 crore as of 31 July 2026.
Money Market Activity
All money market segment volumes, both overnight (call money, triparty repo, market repo, corporate bond repo) and term (notice money, term money, triparty repo, market repo, corporate bond repo), recorded zero activity on 22 August 2026, indicating no transactions in these categories for the date.
The RBI’s operations on 22 August 2026 resulted in a substantial net liquidity absorption of over ₹3.4 lakh crore, while cash reserves of banks remained high and money market activity was nil, reflecting a tight liquidity stance in the system.