The RBI reported overnight money-market transactions of ₹7.09 lakh crore on October 23, with a weighted average rate of 5.74%. Its operations resulted in net liquidity absorption of ₹1,20,292 crore for the day.
BKK Bureau, New Delhi | 26 October 2026 | 12:57 PM IST
The Reserve Bank of India absorbed net liquidity of ₹1,20,292 crore through its operations on October 23, 2026, according to the central bank’s money-market operations statement. The figure reflects the combined effect of repo, marginal standing facility (MSF), standing deposit facility (SDF) and reverse repo operations reported by the RBI.
The RBI conducted a three-day variable-rate repo operation on October 23, allotting ₹50,003 crore at a cut-off rate of 5.58%. The operation was scheduled to mature on October 26. On the same day, banks accessed the MSF for ₹27,382 crore for one day and ₹4,639 crore for three days, both at 5.75%. No amount was recorded for the two-day MSF operation.
At the SDF, banks placed ₹1,99,509 crore for one day, ₹70 crore for two days and ₹2,737 crore for three days. The SDF rate was 5.25%. The RBI reported no reverse repo operation for the day. Based on these transactions, the central bank calculated net liquidity injected from the day’s operations at negative ₹1,20,292 crore, indicating absorption under the RBI’s stated calculation method.
Outstanding operations partly offset the day’s absorption. A seven-day repo operation conducted on October 19 had ₹1,00,014 crore outstanding at a rate of 5.51%, with maturity scheduled for October 26. An earlier reverse repo operation dated October 8 had ₹29,555 crore outstanding at 5.49%, maturing on November 6. The RBI also reported ₹10,411.05 crore availed under its Standing Liquidity Facility.
Including outstanding operations, the RBI reported net liquidity injected at ₹80,870.05 crore. After including the day’s operations, the overall net liquidity position was negative ₹39,421.95 crore. The RBI defines net liquidity as repo, MSF and SLF minus reverse repo and SDF.
Money-market activity
Overnight money-market transactions totalled ₹7,08,940.38 crore on October 23, with a weighted average rate of 5.74% and a reported range of 4.30% to 6.25%. Triparty repo accounted for ₹4,78,984.90 crore at a weighted average rate of 5.75%, while market repo transactions stood at ₹2,09,514.78 crore at 5.71%.
Call-money transactions amounted to ₹11,386.30 crore at a weighted average rate of 5.78%. Repo transactions in corporate bonds totalled ₹9,054.40 crore and carried a weighted average rate of 5.89%. In the term segment, notice money volume was ₹4,137.93 crore at 5.73%, while term triparty repo stood at ₹3,585 crore at 5.81%.
Scheduled commercial banks’ cash balances with the RBI stood at ₹8,45,527.53 crore on October 23. The average daily cash reserve requirement for the fortnight ending October 31 was ₹8,33,309 crore. The RBI also reported the Government of India’s surplus cash balance reckoned for auction at ₹50,003 crore.
Net durable liquidity was reported at a surplus of ₹10,14,401 crore as of September 30, 2026. The RBI’s statement is based on data from the central bank and the Clearing Corporation of India Limited for the money-market figures.
Why it matters
The data provide a snapshot of short-term funding conditions and the RBI’s liquidity operations. The statement also shows the relative scale of overnight market activity, bank cash balances with the RBI and the liquidity position after both current-day and outstanding operations.
Source: Reserve Bank of India
Report discrepancies
Comments