**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated February 17, 2026, details money market operations as of February 16, 2026. It outlines volumes, weighted average rates, and ranges for various money market segments, including overnight and term segments, as well as RBI operations. It also includes the Cash Reserve Position of Scheduled Commercial Banks.
**Key Points / Main Content**
* **Money Market Operations (Feb 16, 2026)**
* **Overnight Segment:** Volume: ₹6,91,195.50 crore, Weighted Average Rate: 4.86%, Range: 4.00-6.00%
* **Term Segment:** Volume: ₹483.45 crore, Weighted Average Rate: 5.08%, Range: 4.65-5.10%
* **RBI Operations (Today's Operations):**
* **MSF:** ₹908.00 crore at 5.50% maturing on Feb 17, 2026.
* **SDFA:** ₹3,95,533.00 crore at 5.00% maturing on Feb 17, 2026.
* **Net liquidity injected from today's operations:** ₹-3,94,625.00 crore (absorption).
* **RBI Operations (Outstanding Operations):**
* **Repo Operation:** ₹22,651.00 crore at 5.34%, maturing on April 30, 2026.
* **Reverse Repo Operation:** ₹1,05,750.00 crore at 5.26%, maturing on April 30, 2026.
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹6,993.50 crore.
* **Net liquidity injected from outstanding operations:** ₹1,35,394.50 crore.
* **Net liquidity injected (outstanding including today's operations):** ₹-2,59,230.50 crore.
* **Reserve Position of Scheduled Commercial Banks (Feb 16, 2026):**
* **Cash balances with RBI:** ₹8,05,867.54 crore.
* **Average daily cash reserve requirement (fortnight ending Feb 28, 2026):** ₹7,65,963.00 crore.
* **Government of India Surplus Cash Balance (Feb 16, 2026):** ₹0.00 crore.
* **Net durable liquidity (Jan 31, 2026):** ₹4,53,843.00 crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Their cash reserve requirements and balances with the RBI are detailed, affecting their liquidity management. They are also affected by the rates and tenors associated with repo and reverse repo operations and the Standing Liquidity Facility.
* **Action Required:** Banks must manage their cash reserves to meet the required balances and potentially participate in the money market operations based on the prevailing rates and liquidity conditions to achieve their financial and regulatory goals.
**Reserve Bank of India (RBI)**
* **Impact:** The press release reflects the RBI's active role in managing liquidity in the money market through various instruments (Repo, Reverse Repo, MSF, SDF). It impacts the RBI's monetary policy implementation and overall financial stability objectives.
* **Action Required:** The RBI needs to continuously monitor market conditions and adjust its operations to maintain desired liquidity levels and interest rates to achieve monetary policy objectives and safeguard financial stability.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for monetary policy and banking regulation in India; primary source of data in the release.
Liquidity Adjustment Facility (LAF): Tool used by the RBI to manage liquidity in the banking system through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against government securities.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb liquidity from the banking system without any collateral.
Repo: A repurchase agreement, where the RBI lends money to banks against government securities.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 17, 2026
Money Market Operations as on February 16, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,91,195.50 4.86 4.00-6.00
I. Call Money 16,327.67 5.09 4.50-5.20
II. Triparty Repo 4,96,434.95 4.84 4.00-4.93
III. Market Repo 1,73,585.68 4.88 4.00-5.20
IV. Repo in Corporate Bond 4,847.20 5.08 5.06-6.00
B. Term Segment
I. Notice Money** 483.45 5.08 4.65-5.10
II. Term Money@@ 1,180.50 - 5.50-5.80
III. Triparty Repo 3,455.00 4.84 4.80-5.00
IV. Market Repo 1,260.51 5.20 5.05-5.48
V. Repo in Corporate Bond 0.00 - -
RBI OPERATIONS@ Auction Tenor Maturity Amount Current
Date (Days) Date Rate/Cut
off Rate
C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
I Today's Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF# Mon, 16/02/2026 1 Tue, 17/02/2026 908.00 5.50
4. SDFΔ# Mon, 16/02/2026 1 Tue, 17/02/2026 3,95,533.00 5.00
5. Net liquidity injected from today's
-3,94,625.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Fri, 30/01/2026 90~ Thu, 30/04/2026 22,651.00 5.34
Fri, 30/01/2026 90~~ Thu, 30/04/2026 1,05,750.00 5.26
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 6,993.50
E. Net liquidity injected from outstanding operations [injection
1,35,394.50
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,59,230.50
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on February 16, 2026 8,05,867.54
(ii) Average daily cash reserve requirement for the fortnight ending^ February 28, 2026 7,65,963.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 16, 2026 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on January 31, 2026 4,53,843.00
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
- Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2025-2026/1201 dated September 30, 2025.
~ As per the Press Release No 2025-2026/1998 dated January 27, 2026.
~~ As per the Press Release No 2025-2026/2015 dated January 30, 2026.
Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
# As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
^ As per the notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025.
Ajit Prasad
Press Release: 2025-2026/2128 Deputy General Manager
(Communications)