Document title: Money Market Operations as on July 17, 2026
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/709
Date: July 20, 2026
Policy rates and liquidity
The RBI conducted a repo operation on 17 July 2026 with a three‑day tenor, maturing on 20 July 2026, injecting ₹75,003.00 crore at a rate of 5.26 %. A second tranche of the same operation added ₹816.00 crore at the same rate. The Marginal Standing Facility (MSF) was accessed for a one‑day tenor on 17 July 2026, providing ₹107.00 crore at 5.50 %; no access was recorded for two‑day and three‑day tenors. The Standing Deposit Facility (SDF) was availed for a one‑day tenor, absorbing ₹1,52,120.00 crore at 5.00 %, and for a three‑day tenor, absorbing ₹5,478.00 crore at the same rate; no absorption occurred for the two‑day tenor. Net liquidity injected from today’s operations amounted to a withdrawal of ₹81,672.00 crore. The Standing Liquidity Facility (SLF) availed from the RBI stood at ₹10,783.82 crore, contributing the same amount as net liquidity injected from outstanding operations. When today's operations are combined with outstanding positions, the overall net liquidity injection is a deficit of ₹70,888.18 crore.
Banking and credit
Cash reserves of scheduled commercial banks as of 17 July 2026 were ₹8,66,619.13 crore. The average daily cash reserve requirement (CRR) for the fortnight ending 31 July 2026 was ₹8,15,720.00 crore. The Government of India’s surplus cash balance available for auction on 17 July 2026 was ₹75,819.00 crore. Net durable liquidity reported on 30 June 2026 was ₹4,99,485.00 crore.
Money market volumes and rates
The overnight segment (including call money, triparty repo, market repo, and repo in corporate bonds) recorded a total volume of ₹13,924.23 crore with a weighted average rate of 5.35 % (range 4.50‑5.65 %). Call money contributed ₹1,793.25 crore at an average rate of 5.17 % (range 4.75‑5.45 %). Triparty repo added ₹4,305.95 crore at 5.19 % (range 4.50‑5.30 %). Market repo accounted for ₹213.63 crore at 4.74 % (range 4.50‑5.00 %). Repo in corporate bonds contributed ₹7,611.40 crore at 5.49 % (range 5.45‑5.65 %).
In the term segment, notice money volume was ₹22,185.45 crore with a weighted average rate of 5.40 % (range 4.60‑5.48 %). Term money volume stood at ₹1,605.50 crore with a rate range of 5.60‑6.10 %. Triparty repo in the term segment reached ₹4,79,596.40 crore at an average rate of 5.17 % (range 4.75‑5.35 %). Market repo in the term segment amounted to ₹1,76,602.20 crore at an average rate of 5.27 % (range 2.00‑5.50 %). No repo in corporate bonds was recorded for the term segment.
Overall, the RBI’s money market operations on 17 July 2026 reflect a substantial absorption of liquidity, a high volume of repo and notice money transactions, and robust cash reserve balances across scheduled commercial banks.