Document title: Money Market Operations as on July 28, 2026
Issuing authority: Reserve Bank of India (RBI) – Department of Communication
Reference number: Press Release 2026-2027/774
Date: July 29, 2026
Policy Rates and Liquidity
The RBI’s Marginal Standing Facility (MSF) operation on Tuesday, 28 July 2026, injected ₹92.00 crore at a rate of 5.50% for a one‑day tenor, maturing on 29 July 2026. The Standing Deposit Facility (SDF) on the same day absorbed ₹1,32,746.00 crore at a rate of 5.00% for a one‑day tenor, also maturing on 29 July 2026. Net liquidity from today’s operations was a withdrawal of ₹1,32,654.00 crore, calculated as Repo + MSF + SLF minus Reverse Repo – SDF. Outstanding repo operations from 27 July 2026 (three‑day tenor) amounted to ₹12,720.00 crore at a rate of 5.26%. Overall net liquidity injected from outstanding operations stood at ₹25,699.66 crore, while the cumulative net liquidity position, including today’s operations, was a withdrawal of ₹1,06,954.34 crore.
Banking and Credit
Cash reserves of scheduled commercial banks as of 28 July 2026 were ₹8,00,024.22 crore. The average daily cash reserve requirement (CRR) for the fortnight ending 31 July 2026 is projected at ₹8,15,720.00 crore, indicating the liquidity needed to meet statutory reserve obligations.
Capital Markets and Flows
The overnight money‑market segment (including all four sub‑segments) recorded a total volume of ₹6,89,671.98 crore, with a weighted average rate of 5.28% and a rate range of 2.00‑5.62%. Within this segment, Call Money accounted for ₹16,083.05 crore at an average rate of 5.31% (range 4.60‑5.50%). Triparty Repo contributed ₹4,79,909.60 crore at 5.30% (range 5.20‑5.50%). Market Repo volume was ₹1,87,105.88 crore at 5.20% (range 2.00‑5.62%). Repo in corporate bonds recorded a volume of ₹6,573.45 crore at an average rate of 5.35% (range 5.31‑5.50%).
In the term segment, Notice Money volume was ₹733.40 crore at 5.57% (range 4.90‑5.75%). Term Money stood at ₹689.00 crore with rates between 5.35‑5.80%. Triparty Repo in the term segment was ₹320.00 crore at 5.54% (range 5.35‑5.75%). Market Repo in the term segment was ₹52.76 crore at a flat rate of 5.45%. No repo transactions in corporate bonds were recorded for the term segment.
Overall, the RBI’s liquidity operations on 28 July 2026 reflected a net absorption of liquidity, while the money‑market volumes and rates indicate active inter‑bank funding at modestly elevated rates across both overnight and term horizons.