Document title: Money Market Operations as on July 27, 2026
Issuing authority: Reserve Bank of India (RBI), Department of Communication
Reference: Press Release 2026-2027/768
Date: July 28, 2026
Policy Rates and Liquidity
The RBI conducted a repo operation on 27 July 2026 for a tenor of 3 days, injecting ₹12,720.00 crore at a rate of 5.26 %. The Marginal Standing Facility (MSF) was offered for 1‑day tenor, absorbing ₹2,738.00 crore at 5.50 %. The Standing Deposit Facility (SDF) was available for 1‑day tenor, absorbing ₹1,28,685.00 crore at 5.00 %. Net liquidity from today’s operations was a withdrawal of ₹1,13,227.00 crore (calculated as Repo + MSF + SLF – Reverse Repo – SDF). Outstanding liquidity positions, including the Standing Liquidity Facility availed of ₹12,979.66 crore, resulted in a cumulative net liquidity absorption of ₹1,00,247.34 crore.
Banking and Credit
Cash reserves of scheduled commercial banks as of 27 July 2026 amounted to ₹8,10,520.88 crore. The average daily cash reserve requirement (CRR) for the fortnight ending 31 July 2026 was ₹8,15,720.00 crore, indicating banks held reserves slightly above the required level.
Capital Markets and Flows
The overnight money market segment (including Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond) recorded a total volume of ₹7,04,971.29 crore with a weighted average rate of 5.21 % (range 0.01‑6.00 %). Call Money contributed ₹18,826.61 crore at an average rate of 5.26 % (range 4.60‑5.45 %). Triparty Repo accounted for ₹4,85,865.95 crore at 5.22 % (range 4.95‑5.51 %). Market Repo added ₹1,93,869.28 crore at 5.15 % (range 0.01‑6.00 %). Repo in Corporate Bonds amounted to ₹6,409.45 crore at 5.29 % (range 5.25‑5.35 %).
In the term segment, Notice Money volume was ₹139.00 crore at 5.06 % (range 4.70‑5.20 %). Term Money stood at ₹1,881.00 crore with rates between 5.35‑5.80 %. Triparty Repo in the term segment was ₹1,038.00 crore at 5.26 % (range 5.20‑5.35 %). Market Repo in the term segment was ₹827.11 crore at 5.43 % (range 5.40‑5.45 %). No Repo in Corporate Bond was recorded for the term segment.
The Government of India surplus cash balance for auction on 27 July 2026 was ₹12,720.00 crore. Net durable liquidity as of 30 June 2026 showed a surplus of ₹4,99,485.00 crore.
Overall, the RBI’s operations on 27 July 2026 reflected a net withdrawal of liquidity from the system, maintained relatively high money‑market rates, and demonstrated strong cash‑reserve positions among scheduled banks.