Document title: Money Market Operations as on July 11, 2026
Issuing authority: Reserve Bank of India (RBI), Department of Communication
Reference number: Press Release 2026-2027/648
Date: July 13, 2026
Policy Rates and Liquidity
On July 11, 2026 the RBI conducted Marginal Standing Facility (MSF) operations for a one‑day tenor at a rate of 5.50% amounting to ₹477.00 crore, while the two‑day tenor saw no operation. The Standing Deposit Facility (SDF) was operated for a one‑day tenor at 5.00% with an amount of ₹1,72,088 crore; the two‑day tenor was zero. Net liquidity injected from today’s operations was a deficit of ₹1,71,611 crore (calculated as Repo + MSF + SLF − Reverse Repo − SDF). Outstanding operations included a three‑day repo on July 10, 2026 of ₹50,015 crore at 5.26% and a three‑day MSF of ₹113 crore at 5.50%. The Standing Liquidity Facility (SLF) availed on July 10 amounted to ₹3,444.00 crore and ₹10,083.82 crore at 5.00% (from RBI$). Net liquidity from outstanding operations was a surplus of ₹56,767.82 crore, leading to an overall net liquidity position of a deficit of ₹1,14,843.18 crore when today’s operations are included.
Banking and Credit
Cash reserves of scheduled commercial banks as on July 11, 2026 were ₹7,86,290.88 crore, with the average daily cash reserve requirement for the fortnight ending July 15, 2026 recorded at ₹7,98,115.00 crore. The Government of India’s surplus cash balance reckoned for the auction on July 10, 2026 stood at ₹50,015.00 crore. Net durable liquidity as on June 15, 2026 was ₹4,82,130.00 crore.
Money Market Activity
The report shows zero transaction volumes across all overnight segments – Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond – with weighted average rates recorded as 0.00%. Similarly, the term segment – Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond – reported zero volumes and no applicable rates. Consequently, no money market activity was recorded for the reporting day.
Financial Stability
The liquidity management stance is reflected by a substantial absorption of ₹1,71,611 crore from today’s operations, partially offset by a surplus of ₹56,767.82 crore from outstanding facilities, resulting in a net liquidity deficit of ₹1,14,843.18 crore. High cash reserve balances and a modest government surplus indicate ample liquidity buffers in the banking system despite the day‑to‑day absorption.
Overall, the RBI’s July 11, 2026 money market operations demonstrate a pronounced liquidity tightening on the day, zero market transaction activity, and a net liquidity deficit after accounting for outstanding facilities, while banks maintain strong cash reserve positions.