The Reserve Bank of India released its money market and liquidity operations data on July 20, 2026, showing a net liquidity absorption of ₹84,420.18 crore after including both the day’s operations and outstanding operations. The figures in the release are stated in ₹ crore, while rates are given in per cent.
The data was issued as RBI Press Release 2026-2027/713 and covers money market activity, Liquidity Adjustment Facility operations, Marginal Standing Facility use, Standing Deposit Facility balances, Standing Liquidity Facility availed from the RBI, and reserve position details.
Money market activity
The release recorded no transactions in the listed money market segments for the reported period. The overnight segment, which included Call Money, Triparty Repo, Market Repo and Repo in Corporate Bond, showed a volume of 0.00 crore. Weighted average rates and rate ranges were marked as not applicable.
The term segment also showed 0.00 crore volume across Notice Money, Term Money, Triparty Repo, Market Repo and Repo in Corporate Bond. The RBI’s notes define Notice Money as uncollateralized transactions of 2 to 14 days, while Term Money relates to uncollateralized transactions of 15 days to one year.
RBI liquidity operations
Under the day’s operations, the RBI listed ₹680.00 crore under the Marginal Standing Facility for one day, auction dated July 19, 2026, maturing on July 20, 2026. The current rate was 5.50 per cent.
The Standing Deposit Facility entry for the same one-day period was ₹1,60,255.00 crore at 5.00 per cent. Based on the RBI’s stated calculation, net liquidity injected from the day’s operations was negative ₹1,59,575.00 crore. In the release, a positive figure represents injection and a negative figure represents absorption.
Outstanding variable rate repo operations from July 17, 2026, with a three-day tenor and maturity on July 20, 2026, were listed at ₹75,003.00 crore and ₹816.00 crore. Both carried a cut-off rate of 5.26 per cent.
Outstanding MSF entries from July 18 and July 17 were shown as 0.00 crore at 5.50 per cent. Outstanding SDF entries included ₹5,970.00 crore for a two-day tenor from July 18 and ₹5,478.00 crore for a three-day tenor from July 17. Both SDF entries carried a rate of 5.00 per cent.
The Standing Liquidity Facility availed from the RBI was ₹10,783.82 crore. Net liquidity injected from outstanding operations was ₹75,154.82 crore. After combining outstanding operations with the day’s operations, the RBI reported net liquidity injected at negative ₹84,420.18 crore.
Reserve position
- Cash balances of scheduled commercial banks with the RBI as on July 19, 2026, were ₹8,32,766.32 crore.
- The average daily cash reserve requirement for the fortnight ending July 31, 2026, was ₹8,15,720.00 crore.
- The Government of India surplus cash balance reckoned for auction as on July 17, 2026, was ₹75,819.00 crore.
- Net durable liquidity as on June 30, 2026, was shown as a surplus of ₹4,99,485.00 crore.
How the net figure is calculated
The RBI note states that net liquidity is calculated as Repo plus MSF plus SLF minus Reverse Repo minus SDF. This is why large SDF balances reduce the net liquidity figure in the statement. The release also notes that the data is based on the Reserve Bank of India and Clearing Corporation of India Limited.
The press release was issued by Ajit Prasad, Deputy General Manager in the Department of Communications.
Source: Reserve Bank of India Press Releases.