Document title: Money Market Operations as on September 22, 2026

Issuing authority: Reserve Bank of India

Reference number: Press Release 2026-2027/1169

Date: September 23, 2026

Policy Rates and Liquidity

The RBI disclosed that the total overnight money‑market volume on September 22 amounted to ₹7,44,738.10 crore. The weighted average rate for the overnight segment (I+II+III+IV) was 5.11 % with a range of 3.01‑6.30 %.

  • Call Money: ₹15,782.26 crore at 5.24 % (range 4.00‑5.35 %).
  • Triparty Repo: ₹5,51,739.55 crore at 5.13 % (range 4.80‑5.23 %).
  • Market Repo: ₹1,69,487.29 crore at an average rate of 5.04 % (range 3.01‑5.30 %).
  • Repo in Corporate Bond: ₹7,729.00 crore at 5.33 % (range 5.25‑6.30 %).

Term‑segment operations recorded: Notice Money weighted rate 4.98 % (range 4.65‑5.27 %); Term Money weighted rate 5.45‑6.10 %; Triparty Repo ₹5,592.50 crore at 5.09 % (range 5.00‑5.10 %); Market Repo ₹300.00 crore at 4.90 % (range 4.90‑4.90 %). No repo in corporate bond was recorded for the term segment.

Today's liquidity‑adjustment operations (dated 22/09/2026) included: Reverse Repo of ₹71,971.00 crore at 5.24 %; Marginal Standing Facility (MSF) of ₹2,956.00 crore at 5.50 %; Standing Deposit Facility (SDF) of ₹1,59,892.00 crore at 5.00 %. The net liquidity injected from today’s operations was a withdrawal of ₹2,28,907.00 crore.

Outstanding operations as of the reporting date showed a reverse repo of ₹47,449.00 crore (dated 11/09/2026) and another of ₹1,72,276.00 crore (dated 07/09/2026), both at 5.24 %. The net liquidity injected from outstanding operations was a withdrawal of ₹2,15,479.24 crore, bringing the cumulative net liquidity injection (including today’s operations) to a withdrawal of ₹4,44,386.24 crore. The Standing Liquidity Facility availed from RBI amounted to ₹4,245.76 crore.

Banking and Credit

Cash reserves of scheduled commercial banks stood at ₹8,09,549.94 crore as of September 22, 2026. The average daily cash‑reserve requirement for the fortnight ending September 30, 2026 was ₹8,21,989.00 crore.

Capital Markets and Flows

The overnight segment’s weighted average rate of 5.11 % reflects active participation across call money, triparty repo, market repo and corporate‑bond repo instruments. The term segment, though smaller in volume, showed rates ranging from 4.98 % to 6.10 % across notice money, term money and repo facilities.

Financial Stability and Inclusion

The net liquidity figures indicate that the RBI continued to absorb liquidity from the system, with a total net withdrawal of ₹4,44,386.24 crore when both today’s and outstanding operations are considered. This absorption aligns with the RBI’s ongoing stance to manage liquidity conditions in the money market.

The press release provides a comprehensive snapshot of money‑market activity, liquidity‑adjustment operations and cash‑reserve positions as of 22 September 2026.