Document title: Money Market Operations as on July 22, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/736
Date: July 23, 2026
Policy Rates and Liquidity
The RBI disclosed that the total overnight money‑market volume on July 22, 2026 was ₹6,59,097.60 crore, with a weighted average rate of 5.25% and a rate range of 3.00‑5.50%. Within the overnight segment, Call Money accounted for ₹14,662.89 crore at an average rate of 5.38% (range 4.60‑5.45%), Triparty Repo for ₹4,59,373.95 crore at 5.22% (range 4.80‑5.33%), Market Repo for ₹1,78,647.36 crore at 5.29% (range 3.00‑5.50%), and Repo in Corporate Bonds for ₹6,413.40 crore at 5.48% (range 5.37‑5.50%).
In the term segment, Notice Money volume was ₹156.15 crore at 5.13% (range 4.70‑5.40%), Term Money volume ₹459.25 crore with a rate band of 5.55‑5.85%, Term Triparty Repo volume ₹3,005.00 crore at 5.18% (range 5.01‑5.40%), and Term Market Repo volume ₹1,557.37 crore at 5.39% (range 5.20‑5.50%). No repo in corporate bonds was recorded for the term segment.
Today's liquidity operations on 22 July 2026 included a 2‑day repo of ₹7,200.00 crore at 5.26% (maturing 24 July), a 1‑day Marginal Standing Facility (MSF) of ₹216.00 crore at 5.50% (maturing 23 July), and a 1‑day Standing Deposit Facility (SDF) of ₹1,29,551.00 crore at 5.00% (maturing 23 July). The net liquidity effect of today's operations was a withdrawal of ₹1,22,135.00 crore. Outstanding repo operations comprised a 3‑day repo of ₹34,291.00 crore at 5.26% (maturing 24 July) and a 7‑day repo of ₹72,051.00 crore at 5.26% (maturing 27 July). The Standing Liquidity Facility availed from the RBI amounted to ₹12,908.82 crore. Net liquidity injected from outstanding operations was ₹1,19,250.82 crore, resulting in an overall net liquidity position (including today's operations) of a withdrawal of ₹2,884.18 crore.
Banking and Credit
Scheduled Commercial Banks held cash balances with the RBI of ₹8,19,309.39 crore as of 22 July 2026. The average daily cash reserve requirement for the fortnight ending 31 July 2026 was ₹8,15,720.00 crore. The Government of India had a surplus cash balance of ₹7,200.00 crore available for auction on the same date. Net durable liquidity in the system as of 30 June 2026 stood at ₹4,99,485.00 crore.
The data reflect the RBI's ongoing liquidity management through repo, reverse repo, MSF, SDF and SLF operations, and provide a snapshot of cash reserve positions of scheduled banks and the government's cash surplus.