Document title: Money Market Operations as on October 23, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1385
Date: October 26, 2026
Policy Rates and Liquidity
The RBI disclosed that the overnight money‑market segment (I+II+III+IV) recorded a total volume of ₹7,08,940.38 crore with a weighted average rate of 5.74% (range 4.30‑6.25%). Breakdown: Call Money volume ₹11,386.30 crore at 5.78% (range 4.30‑5.95%); Triparty Repo volume ₹4,78,984.90 crore at 5.75% (range 5.69‑5.94%); Market Repo volume ₹2,09,514.78 crore at 5.71% (range 4.75‑5.95%); Repo in Corporate Bond volume ₹9,054.40 crore at 5.89% (range 5.80‑6.25%).
In the term segment, total volume was ₹4,137.93 crore with a rate range of 4.00‑5.95%. Notice Money rate was 5.73%; Term Money volumes were ₹406.50 crore and ₹3,585.00 crore at 5.81% (ranges 5.70‑7.80% and 5.60‑5.90% respectively); Market Repo volume ₹1,263.13 crore at 5.96% (range 5.85‑5.97%); Repo in Corporate Bond was nil.
Today's operations (23 Oct 2026) included a repo of ₹50,003.00 crore for a 3‑day tenor maturing on 26 Oct 2026 at 5.58%; MSF operations of ₹27,382.00 crore for a 1‑day tenor at 5.75%, zero for a 2‑day tenor, and ₹4,639.00 crore for a 3‑day tenor at 5.75%; SDF operations of ₹1,99,509.00 crore for a 1‑day tenor at 5.25%, ₹70.00 crore for a 2‑day tenor at 5.25%, and ₹2,737.00 crore for a 3‑day tenor at 5.25%. Net liquidity injected from today's operations was a withdrawal of ₹1,20,292.00 crore.
Outstanding operations comprised a repo of ₹1,00,014.00 crore (7‑day tenor, rate 5.51%) and a reverse repo of ₹29,555.00 crore (29‑day tenor, rate 5.49%). Net liquidity injected from outstanding operations was a surplus of ₹80,870.05 crore, resulting in an overall net liquidity position (including today's operations) of a deficit of ₹39,421.95 crore.
Banking and Credit
Cash reserves of scheduled commercial banks stood at ₹8,45,527.53 crore as of 23 Oct 2026. The average daily cash reserve requirement for the fortnight ending 31 Oct 2026 was ₹8,33,309.00 crore. The Government of India surplus cash balance available for auction on 23 Oct 2026 was ₹50,003.00 crore. Net durable liquidity (surplus) as of 30 Sep 2026 was ₹10,14,401.00 crore. The Standing Liquidity Facility availed from the RBI amounted to ₹10,411.05 crore.
Overall, the RBI’s money‑market operations on 23‑26 Oct 2026 indicate a net absorption of liquidity of over ₹1.2 lakh crore on the day, with weighted rates hovering around 5.5‑5.8%, while cash reserve positions of scheduled banks remain robust.