Document title: Money Market Operations as on September 03, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1033
Date: September 04, 2026
Policy Rates and Liquidity
The RBI’s overnight segment recorded a total volume of ₹6,74,364.30 crore with a weighted average rate of 4.46% and a rate range of 0.01%‑5.35%. Call Money contributed ₹6,035.04 crore at an average rate of 4.95% (range 4.20%‑5.10%). Triparty Repo accounted for ₹5,06,363.20 crore at 4.45% (range 3.75%‑5.00%). Market Repo volume was ₹1,55,517.41 crore with a weighted rate of 4.43% (range 0.01%‑5.00%). Repo in Corporate Bonds amounted to ₹6,448.65 crore at 5.10% (range 4.90%‑5.35%).
In the term segment, Notice Money volume stood at ₹4,763.25 crore with an average rate of 4.98% (range 4.40%‑5.18%). Term Money was ₹241.00 crore with a rate range of 5.15%‑6.00%. Triparty Repo in the term segment was ₹4,941.95 crore at 4.65% (range 4.00%‑4.80%). Market Repo was ₹803.52 crore at 4.87% (range 4.70%‑5.45%). No corporate‑bond repo transaction occurred in the term segment.
Today's reverse‑repo operations on 03‑Sep‑2026 (tenor 1 day, maturing 04‑Sep‑2026) injected ₹5,18,742.00 crore at 5.24% and a second reverse‑repo of ₹34,652.00 crore at the same rate. The Marginal Standing Facility (MSF) on the same date injected ₹123.00 crore at 5.50%. The Standing Deposit Facility (SDF) absorbed ₹2,35,571.00 crore at 5.00%. Net liquidity from today’s operations was a deficit of ₹7,88,842.00 crore.
Earlier week’s repo operations included a 7‑day repo of ₹1,14,320.00 crore on 01‑Sep‑2026 and a 15‑day repo of ₹1,34,625.00 crore on 31‑Aug‑2026, both at 5.24%.
The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹6,321.50 crore. Net liquidity injected from outstanding operations was a deficit of ₹2,42,623.50 crore, leading to an overall net liquidity deficit of ₹10,31,465.50 crore when including today’s operations.
Banking and Credit
Cash reserves of scheduled commercial banks as of 03‑Sep‑2026 were ₹8,33,108.21 crore. The average daily cash reserve requirement for the fortnight ending 15‑Sep‑2026 was ₹8,10,284.00 crore. The Government of India’s surplus cash balance for auction on 03‑Sep‑2026 was nil. Net durable liquidity as of 15‑Aug‑2026 stood at a surplus of ₹8,05,736.00 crore.
Capital Markets and Flows
The money market volumes and rates detailed above reflect active participation across overnight and term segments, with weighted average rates ranging from 4.40% to 5.35% and total overnight volume exceeding ₹6.7 lakh crore.
Financial Stability
The cumulative net liquidity absorption of ₹10,31,465.50 crore, together with the modest SLF utilisation, indicates a tightening of liquidity conditions in the system as of early September 2026.
Overall, the RBI’s operations on 03‑Sep‑2026 show substantial liquidity absorption through reverse‑repo and SDF mechanisms, a high volume of overnight money‑market activity, and a cash‑reserve position that closely matches the statutory requirement.