Document title: Money Market Operations as on June 22, 2026
Issuing Authority: Reserve Bank of India (RBI)
Reference No.: Press Release 2026-2027/517
Date: 23 June 2026
Policy Rates and Liquidity
On 22 June 2026 the RBI conducted a repo operation of one‑day tenor, maturing on 23 June 2026, injecting ₹36,300.00 crore at a rate of 5.26 %. The Marginal Standing Facility (MSF) was also utilised on the same day for one‑day tenor, absorbing ₹2,236.00 crore at 5.50 %. The Standing Deposit Facility (SDF) absorbed ₹1,18,739.00 crore at a rate of 5.00 %. The net liquidity effect of today’s operations was a withdrawal of ₹80,203.00 crore (injection negative).
Outstanding repo operations as of 16 June 2026 (seven‑day tenor) amounted to ₹89,440.00 crore at 5.26 % rate, maturing on 23 June 2026. The Standing Liquidity Facility availed from the RBI stood at ₹10,734.89 crore. Net liquidity injected from outstanding operations was ₹1,00,174.89 crore, leading to an overall net liquidity injection of ₹19,971.89 crore when today's and outstanding operations are combined.
Banking and Credit
Cash reserves of scheduled commercial banks as on 22 June 2026 were ₹7,76,527.73 crore. The average daily cash reserve requirement for the fortnight ending 30 June 2026 was ₹8,01,069.00 crore, indicating the liquidity position of the banking system.
Capital Markets and Flows
The overnight money‑market segment recorded a total volume of ₹6,82,283.09 crore with a weighted average rate of 5.29 % and a rate range of 4.00‑6.00 %. Breakdown of the overnight segment: Call Money volume was ₹19,151.55 crore at an average rate of 5.33 % (range 4.20‑5.42 %); Triparty Repo volume was ₹4,85,409.25 crore at 5.29 % (range 5.23‑5.65 %); Market Repo volume was ₹1,71,044.34 crore at 5.26 % (range 4.00‑6.00 %); Repo in Corporate Bond volume was ₹6,677.95 crore at 5.38 % (range 5.30‑5.50 %).
In the term segment, Notice Money volume was ₹185.40 crore at 5.16 % (range 4.85‑5.30 %); Term Money volume was ₹243.00 crore with a rate range of 5.25‑6.90 %; Triparty Repo volume was ₹399.25 crore at 5.30 % (range 5.26‑5.35 %). Market Repo and Repo in Corporate Bond volumes were zero.
Government of India surplus cash balance reckoned for auction as on 22 June 2026 was ₹36,300.00 crore, contributing to net durable liquidity surplus of ₹4,86,400.00 crore as on 31 May 2026.
Overall, the RBI’s money‑market operations on 22 June 2026 reflected a substantial injection of liquidity through repo facilities, offset by larger absorptions via MSF and SDF, resulting in a net liquidity withdrawal. The banking system’s cash reserves remained robust, and money‑market activity continued at high volumes across overnight and term segments.