Money Market Operations as on August 21, 2026
Issuing Authority: Reserve Bank of India (RBI)
Reference No.: Press Release 2026-2027/949
Date: August 24, 2026
Policy Rates and Liquidity
The RBI conducted repo and reverse‑repo operations on 21 August 2026. A reverse‑repo of 95,970 cr was undertaken for a three‑day tenor, priced at 5.24 %. The Marginal Standing Facility (MSF) was available on 21 August for a one‑day tenor at 5.50 % with a volume of 171 cr, and a two‑day tenor on 22 August at 5.50 % with zero volume. The Standing Deposit Facility (SDF) operated on 21 August for three‑day and one‑day tenors, injecting 55 cr at 5.50 % and 5.00 % respectively, and on 22–23 August injecting 1,53,422 cr at 5.00 % and 1,357 cr at 5.00 %. Net liquidity injected from today’s operations amounted to a withdrawal of 2,50,583 cr (negative injection).
Banking and Credit
Cash balances of scheduled commercial banks with the RBI stood at 7,93,327.19 cr on 21 August 2026. The average daily cash reserve requirement for the fortnight ending 31 August 2026 was projected at 8,17,404.00 cr. The Government of India’s surplus cash balance for auction purposes was zero on the same date.
Capital Markets and Flows
The overnight money‑market segment (including call money, triparty repo, market repo and repo in corporate bonds) recorded a total volume of 6,56,859.58 cr with a weighted average rate of 5.05 % and a rate range of 0.01‑5.45 %. Call money contributed 13,284.41 cr at an average rate of 5.19 % (range 4.00‑5.25 %). Triparty repo volume was 4,52,790.20 cr at 5.07 % (range 4.50‑5.17 %). Market repo accounted for 1,83,576.32 cr at 4.97 % (range 0.01‑5.30 %). Repo in corporate bonds amounted to 7,208.65 cr at 5.30 % (range 5.25‑5.45 %). In the term segment, notice money volume was 155.60 cr at 5.08 % (range 4.85‑5.25 %). Term money volume was 313.00 cr with rates between 5.70‑6.30 %. Triparty repo in the term segment was 820.00 cr at a flat rate of 5.25 %.
Financial Stability and Inclusion
Net liquidity injected from outstanding operations (excluding today’s) was a withdrawal of 89,458.94 cr. Including today’s operations, cumulative net liquidity injection turned negative by 3,40,041.94 cr, indicating overall liquidity absorption. The Standing Liquidity Facility (SLF) availed from RBI amounted to 9,486.06 cr. Net durable liquidity, measured as surplus (+) or deficit (‑), was a surplus of 6,79,145.00 cr as of 31 July 2026.
The circular provides a comprehensive snapshot of money‑market activity, liquidity operations, and cash‑reserve positions as of late August 2026, showing significant liquidity absorption through repo and SDF operations while maintaining ample cash reserves in the banking system.