Document title: Money Market Operations as on August 14, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/904
Date: August 17, 2026
Policy Rates and Liquidity
The RBI conducted a reverse repo operation on 14 August 2026, injecting ₹80,235 crore at a rate of 5.24% with a tenor of three days, maturing on 17 August 2026. In the same session, the Marginal Standing Facility (MSF) was utilised for tenors of one, two and three days, providing ₹45 crore, ₹2,000 crore and ₹45 crore respectively, each at a rate of 5.50%. The Standing Deposit Facility (SDF) was availed for tenors of one, two and three days, with amounts of ₹2,31,586 crore, ₹450 crore and ₹2,248 crore, all at a rate of 5.00%. Net liquidity injected from today’s operations amounted to a deficit of ₹3,12,429 crore, calculated as Repo + MSF + SLF − Reverse Repo − SDF.
Banking and Credit
Cash balances of scheduled commercial banks with the RBI stood at ₹7,78,261.20 crore as of 14 August 2026. The average daily cash reserve requirement for the fortnight ending 15 August 2026 was ₹8,03,001.00 crore. The Government of India’s surplus cash balance reckoned for auction on the same date was nil. Net durable liquidity, representing the surplus or deficit of overall liquidity, was recorded at a surplus of ₹5,36,080.00 crore as of 15 July 2026.
Financial Stability
Outstanding operations include a reverse repo of ₹95,810 crore initiated on 10 August 2026, maturing on 17 August 2026 at a rate of 5.24%. Net liquidity injected from outstanding operations (including today’s) amounted to a deficit of ₹85,899.58 crore, leading to an overall net liquidity position of a deficit of ₹3,98,328.58 crore when both today’s and outstanding operations are combined. These figures reflect the RBI’s ongoing liquidity management stance in the money market.
Overall, the RBI’s money‑market operations on 14 August 2026 show substantial repo and MSF activity, a net liquidity absorption of over ₹3.9 trillion, and robust cash reserve balances in scheduled banks, indicating a tight liquidity environment.