Document Title: Money Market Operations as on September 12, 2026
Issuing Authority: Reserve Bank of India
Reference Number: Press Release 2026-2027/1113 (Deputy General Manager)
Date: 15 September 2026
Policy Rates and Liquidity
The RBI reported zero volumes and no weighted‑average rates across all overnight (Call Money, Triparty Repo, Market Repo, Repo in Corporate Bond) and term‑segment instruments (Notice Money, Term Money, Triparty Repo, Market Repo, Repo in Corporate Bond).
Today's operations included a Marginal Standing Facility (MSF) 1‑day tenor with a rate of 5.50% on ₹145.00 crore; the 2‑day and 3‑day tenors were unused. The Standing Deposit Facility (SDF) 1‑day tenor was utilised for ₹2,81,021.00 crore at a rate of 5.00%, with no activity on the 2‑day and 3‑day tenors. Net liquidity injected from today’s operations was a withdrawal of ₹2,80,876.00 crore.
Outstanding operations showed a reverse repo 4‑day tenor of ₹3,44,864.00 crore at 5.24%, a 15‑day tenor of ₹1,34,625.00 crore and a 26‑day tenor of ₹60,449.00 crore, both at 5.24%, and a 30‑day tenor of ₹2,59,276.00 crore at 5.24%. MSF outstanding amounts were zero for 2‑day and 3‑day tenors and ₹8.00 crore for the 4‑day tenor, all at 5.50%. SDF outstanding amounts were ₹90.00 crore (2‑day), ₹1,910.00 crore (3‑day) and ₹3,158.00 crore (4‑day), each at 5.00%. The Standing Liquidity Facility (SLF) availed from the RBI amounted to ₹3,584.11 crore. Net liquidity injected from outstanding operations was a withdrawal of ₹8,00,779.89 crore, leading to a combined net liquidity absorption of ₹10,81,655.89 crore when today’s operations are included.
Banking and Credit
Cash reserves of scheduled commercial banks were ₹7,93,250.46 crore as on 12 September 2026, rising to an average daily cash reserve requirement of ₹8,10,284.00 crore for the fortnight ending 15 September 2026. 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.
The data indicate a pronounced tightening of liquidity in the money market, with substantial net withdrawals and a modest increase in banks’ cash reserve balances.