Document title: Money Market Operations as on September 15, 2026

Issuing authority: Reserve Bank of India (RBI)

Reference number: Press Release 2026-2027/1120

Date: September 16, 2026

Policy Rates and Liquidity

The RBI conducted a reverse repo operation on 15 September 2026 with a one‑day tenor, maturing on 16 September 2026, for an amount of ₹3,93,352.00 crore at a rate of 5.24 %. On the same day, the Marginal Standing Facility (MSF) was utilised for ₹1,038.00 crore at 5.50 % and the Standing Deposit Facility (SDF) for ₹2,78,783.00 crore at 5.00 %. Net liquidity injected from today’s operations was a negative ₹6,71,097.00 crore, indicating absorption.

Outstanding reverse repo operations include a 26‑day tenor dated 11 September 2026 amounting to ₹60,449.00 crore at 5.24 % and a 30‑day tenor dated 7 September 2026 amounting to ₹2,57,276.00 crore at 5.24 %. Net liquidity injected from outstanding operations was –₹3,14,140.89 crore. Combining today’s and outstanding operations, total net liquidity injection (or absorption) amounted to –₹9,85,237.89 crore.

Capital Markets and Flows

The overnight money‑market segment recorded a total volume of ₹7,08,362.96 crore with a weighted average rate of 4.80 % and a rate range of 2.00‑5.30 %.

  • Call Money: volume ₹12,991.60 crore, rate 5.06 % (range 4.60‑5.20 %).
  • Triparty Repo: volume ₹5,19,302.60 crore, rate 4.85 % (range 4.10‑5.00 %).
  • Market Repo: volume ₹1,69,854.71 crore, rate 4.63 % (range 2.00‑5.30 %).
  • Repo in Corporate Bond: volume ₹6,214.05 crore, rate 5.02 % (range 4.95‑5.15 %).

In the term segment, Notice Money amounted to ₹251.00 crore at 5.06 % (range 4.80‑5.15 %). Term Money stood at ₹1,312.00 crore with a rate range of 5.50‑6.10 % (rate not disclosed). Triparty Repo volume was ₹1,135.00 crore at 5.13 % (range 4.90‑5.35 %). Market Repo volume was ₹978.40 crore at 5.49 % (range 5.45‑5.49 %). No repo transactions in corporate bonds were recorded for the term segment.

Banking and Credit

Cash reserves of scheduled commercial banks as on 15 September 2026 were ₹8,00,735.20 crore, while the average daily cash‑reserve requirement for the fortnight ending that date was ₹8,10,284.00 crore.

External Sector and Currency

The Government of India’s surplus cash balance reckoned for auction as on 15 September 2026 was ₹0.00 crore.

Financial Stability and Inclusion

Net durable liquidity as on 31 August 2026 stood at a surplus of ₹10,66,303.00 crore.

Regulatory and Policy Measures

The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹3,584.11 crore.

The RBI’s money‑market operations on 15 September 2026 demonstrate a substantial liquidity absorption of nearly ₹10 trillion rupees, with robust overnight market activity exceeding ₹7 lakh crore and cash‑reserve balances closely matching statutory requirements, reflecting a tight liquidity stance in the system.