Document title: Money Market Operations as on July 30, 2026

Issuing authority: Reserve Bank of India (RBI)

Reference number: Press Release 2026-2027/782

Date: July 31, 2026

Policy Rates and Liquidity

The RBI’s repo and reverse‑repo rates for the reporting date spanned a band of 5.00% to 5.55% across tenors, with fixed‑rate bands listed as 1.00‑5.55%, 4.30‑5.40%, 5.00‑5.48%, 5.26‑5.55%, 5.00‑5.35%, 5.80‑5.80%, 5.20‑5.70% and 5.50‑5.50%.

Today's operations on 30 July 2026 included a repo transaction of 609.00 crore rupees and a Standing Deposit Facility (SDF) transaction of 1,43,691.00 crore rupees. Net liquidity injected from today’s operations was –1,43,082.00 crore rupees, indicating a liquidity absorption.

Outstanding operations show a net liquidity injection of 12,979.66 crore rupees from the Standing Liquidity Facility (SLF). When today's operations are combined with outstanding positions, the overall net liquidity injection is –1,30,102.34 crore rupees, i.e., a net absorption.

Banking and Credit

Cash balances of scheduled commercial banks with the RBI stood at 8,19,273.03 crore rupees as of 30 July 2026. The average daily cash reserve requirement (CRR) for the fortnight ending 31 July 2026 was 8,15,720.00 crore rupees.

Net durable liquidity, defined as surplus (+) or deficit (–), was reported at 4,99,485.00 crore rupees as of 30 June 2026, indicating a surplus position in the banking system.

Money Market Operations

Overnight Segment (I+II+III+IV)

  • Call Money: volume 13,812.42 crore rupees at an average rate of 5.29%.
  • Triparty Repo: volume 4,79,902.60 crore rupees at an average rate of 5.27%.
  • Market Repo: volume 1,92,009.51 crore rupees at an average rate of 5.16%.
  • Repo in Corporate Bond: volume not disclosed.

Term Segment

  • Notice Money: volume 344.65 crore rupees at an average rate of 5.19%.
  • Term Money: volume 475.00 crore rupees (rate not applicable).
  • Triparty Repo: volume 3,500.00 crore rupees at an average rate of 5.38%.
  • Market Repo: volume 0.00 crore rupees (no transaction).
  • Repo in Corporate Bond: volume not disclosed.

Overall money‑market activity recorded a volume‑weighted range (one leg) of 6,92,388.98 crore rupees with an average rate of 5.24%.

Financial Stability and Inclusion

The reported net durable liquidity surplus of 4,99,485.00 crore rupees as of 30 June 2026 reflects a comfortable liquidity cushion in the system, complementing the RBI’s active liquidity management through LAF, MSF, SDF and SLF operations.

Regulatory and Policy Measures

The RBI continued to utilise its Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) to fine‑tune market liquidity. The Standing Liquidity Facility (SLF) was availed for 12,979.66 crore rupees, contributing to the net liquidity injection from outstanding operations. All figures are based on data from the RBI and the Clearing Corporation of India Limited (CCIL).

In summary, the RBI absorbed approximately ₹1.43 cr of liquidity through today’s operations and a total net absorption of ₹1.30 cr when combined with outstanding positions, while maintaining robust cash reserves and a sizable durable liquidity surplus.