Document title: Money Market Operations as on September 11, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/1110
Date: September 15, 2026
Policy rates and liquidity
The RBI conducted reverse repo operations on 11 September 2026 amounting to ₹3,44,864 crore for a tenor of 4 days and ₹60,449 crore for a tenor of 26 days, both at a rate of 5.24%. The Marginal Standing Facility (MSF) was utilised for ₹169 crore at a rate of 5.50% for a 1‑day tenor, with no operations for tenors of 2 and 3 days and a minimal ₹8 crore for a 4‑day tenor. The Standing Deposit Facility (SDF) saw two transactions on the same day: ₹2,72,091 crore for a 1‑day tenor and ₹90 crore for a 2‑day tenor, each at 5.00%, followed by ₹1,910 crore for a 3‑day tenor and ₹3,158 crore for a 4‑day tenor, also at 5.00%. Net liquidity injected from today’s operations was a withdrawal of ₹6,82,385 crore.
Outstanding operations included a reverse repo of ₹1,34,625 crore (tenor 15 days) at 5.24% and an MSF utilisation of ₹2,59,276 crore (tenor 30 days) at 5.24%. Net liquidity absorbed from outstanding operations was ₹3,90,316.89 crore. Combining today’s and outstanding positions, total net liquidity injection was a deficit of ₹10,72,701.89 crore, indicating overall liquidity absorption.
Banking and credit
Cash reserves of scheduled commercial banks as of 11 September 2026 were ₹8,03,012.48 crore. The average daily cash reserve requirement for the fortnight ending 15 September 2026 was ₹8,10,284.00 crore. The Government of India’s surplus cash balance available for auction on 11 September 2026 was zero. Net durable liquidity as of 15 August 2026 stood at ₹8,05,736.00 crore.
Capital markets and flows
The overnight money market segment recorded a total volume of ₹6,73,803.41 crore with a weighted average rate of 4.66% (range 1.00‑6.00%). Within this segment, Call Money volume was ₹12,791.66 crore at 5.02% (range 4.50‑5.15%), Triparty Repo volume was ₹4,82,918.80 crore at 4.68% (range 4.20‑5.00%), Market Repo volume was ₹1,71,723.05 crore at 4.56% (range 1.00‑6.00%), and Repo in Corporate Bonds amounted to ₹6,369.90 crore at 5.07% (range 4.94‑5.80%).
In the term segment, Notice Money volume was ₹730.80 crore at 4.95% (range 4.60‑5.07%). Term Money volume was ₹1,336.00 crore with a rate range of 5.40‑5.85% (rate not specified). Triparty Repo volume was ₹1,840.10 crore at 4.94% (range 4.60‑5.00%). Market Repo volume was ₹1,105.92 crore at 5.46% (range 5.45‑5.53%). No Repo in Corporate Bonds was recorded for the term segment. The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹3,584.11 crore.
Financial stability and inclusion
The overall net liquidity position, reflecting a cumulative absorption of ₹10,72,701.89 crore across today’s and outstanding operations, suggests a tightening stance in the money market, aimed at managing excess liquidity in the system.
Regulatory and policy measures
All figures are based on data from the Reserve Bank of India and the Clearing Corporation of India Limited (CCIL). The release references prior press releases and notifications, including Press Release No. 2025-2026/1201 (30 September 2025), Press Release No. 2022-2023/41 (8 April 2022), Press Release No. 2014-2015/1971 (19 March 2015), and Press Release No. 2023-2024/1548 (27 December 2023). The document was issued by Deputy General Manager Ajit Prasad of the Communications Department.
The RBI’s money market operations on 11 September 2026 demonstrate active management of liquidity through repo, reverse repo, MSF, SDF and SLF instruments, with a net withdrawal of over ₹10.7 lakh crore, while maintaining robust cash reserve positions in the banking system.