Document title: Money Market Operations as on June 24, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/534
Date: 25 June 2026
Policy Rates and Liquidity
The RBI’s Marginal Standing Facility (MSF) operated on 24 June 2026 with a tenor of one day, maturing on 25 June 2026, for an amount of ₹724.00 cr at a rate of 5.50%. The Standing Deposit Facility (SDF) on the same day was also for one‑day tenor, amounting to ₹1,42,338.00 cr at a rate of 5.00%. Net liquidity injected from today’s operations was –₹1,41,614.00 cr, indicating a net absorption of liquidity. Outstanding variable‑rate repo operations dated 23 June 2026 had a tenor of seven days, maturing on 30 June 2026, with an amount of ₹1,41,171.00 cr at a weighted average rate of 5.26%. Including outstanding operations, net liquidity injected was ₹1,51,925.89 cr, and the cumulative net injection (outstanding plus today’s) stood at ₹10,311.89 cr.
Banking and Credit
Cash reserves of scheduled commercial banks as of 24 June 2026 were ₹7,71,964.81 cr. The average daily cash reserve requirement (CRR) for the fortnight ending 30 June 2026 was ₹8,01,069.00 cr, indicating the level of statutory liquidity banks needed to maintain. The Government of India’s surplus cash balance available for auction on 24 June 2026 (and also reported for 31 May 2026) was ₹4,86,400.00 cr, reflecting excess fiscal cash that could be absorbed by the market.
Capital Markets and Flows
The overnight money‑market segment (including Call Money, Triparty Repo, Market Repo and Repo in Corporate Bonds) recorded a total volume of ₹6,76,503.87 cr. The weighted average rate across this segment was 5.22% with a rate range of 4.00% to 5.60%. Within the overnight segment, Call Money accounted for ₹21,919.29 cr at an average rate of 5.37% (range 4.20%‑5.45%). Triparty Repo contributed ₹4,62,044.80 cr at an average rate of 5.20% (range 5.11%‑5.60%). Market Repo contributed ₹1,87,136.98 cr at an average rate of 5.23% (range 4.00%‑5.40%). Repo in Corporate Bonds showed a volume of ₹5,402.80 cr at a rate of 5.40% (range 5.35%‑5.55%).
The term‑money segment recorded modest volumes: Notice Money of ₹141.00 cr at an average rate of 5.51% (range 4.85%‑5.90%); Term Money of ₹50.50 cr with a rate range of 5.65%‑6.25%; Triparty Repo of ₹2,007.00 cr at 5.20% (range 5.11%‑5.40%); Market Repo of ₹1,049.32 cr at a flat rate of 5.50%; and no activity in Repo in Corporate Bonds.
Overall, the RBI’s liquidity operations on 24‑25 June 2026 injected a net surplus of liquidity into the system while maintaining a balanced cash‑reserve position among scheduled banks and providing the government’s surplus cash for market absorption. This reflects the central bank’s ongoing management of short‑term money‑market conditions and liquidity provisioning.