**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated February 18, 2026, reports on money market operations as of February 17, 2026. It details volumes, weighted average rates, and ranges for various money market segments, along with RBI operations including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also covers the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (February 17, 2026)**
* **Overnight Segment:** Total volume of ₹6,94,878.51 crore with a weighted average rate of 4.85%.
* **Term Segment:** Includes Notice Money (₹203.50 crore at 5.06%), Term Money (₹635.00 crore), Triparty Repo (₹1,425.00 crore at 4.83%), Market Repo (₹383.68 crore at 5.35%), and Repo in Corporate Bond (₹0.00 crore).
* **RBI Operations**
* **Today's Operations (February 17, 2026):**
* MSF: ₹787.00 crore at 5.50%
* SDFA: ₹3,96,525.00 crore at 5.00%
* Net liquidity injected: -₹3,95,738.00 crore.
* **Outstanding Operations:**
* Repo Operation (Fri, 30/01/2026 90~): ₹22,651.00 crore at 5.34%
* Repo Operation (Fri, 30/01/2026 90~~): ₹1,04,250.00 crore at 5.26%
* Standing Liquidity Facility (SLF) Availed from RBI: ₹6,687.34 crore.
* Net Liquidity Injected from Outstanding Operations: ₹1,33,588.34 crore.
* Net Liquidity Injected (Outstanding Including Today's Operations): -₹2,62,149.66 crore.
* **Reserve Position**
* **Cash Reserves of Scheduled Commercial Banks:**
* Cash balances with RBI (February 17, 2026): ₹8,07,492.44 crore.
* Average daily cash reserve requirement for the fortnight ending (February 28, 2026): ₹7,65,963.00 crore.
* **Government of India Surplus Cash Balance Reckoned for Auction:** ₹0.00 crore as on February 17, 2026.
* **Net Durable Liquidity:** ₹4,53,843.00 crore as on January 31, 2026.
**Impact Analysis**
* **Scheduled Commercial Banks**
**Impact:** Must adhere to cash reserve requirements and participate in money market operations.
**Action Required:** Maintain required cash balances with RBI and manage liquidity positions based on the reported data.
Key Entities Referenced
Reserve Bank of India (RBI): India's central bank, responsible for monetary policy and regulation of the financial system. It conducts operations related to Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF).
Liquidity Adjustment Facility (LAF): A tool used by RBI to manage liquidity in the market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow additional amount of overnight money from the RBI.
Standing Deposit Facility (SDF): A tool used by RBI to absorb liquidity from the banking system without any collateral.
Money Market Operations: The short-term lending and borrowing activities between financial institutions that provide liquidity to the market. The data covers overnight and term segments including call money, triparty repo, market repo and repo in corporate bond.
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 18, 2026
Money Market Operations as on February 17, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,94,878.51 4.85 4.00-5.20
I. Call Money 14,237.47 5.08 4.50-5.20
II. Triparty Repo 5,13,648.60 4.83 4.60-5.00
III. Market Repo 1,62,195.24 4.90 4.00-5.20
IV. Repo in Corporate Bond 4,797.20 5.09 5.05-5.10
B. Term Segment
I. Notice Money** 203.50 5.06 4.65-5.15
II. Term Money@@ 635.00 - 5.50-5.78
III. Triparty Repo 1,425.00 4.83 4.76-4.90
IV. Market Repo 383.68 5.35 5.10-5.48
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# Tue, 17/02/2026 1 Wed, 18/02/2026 787.00 5.50
4. SDFΔ# Tue, 17/02/2026 1 Wed, 18/02/2026 3,96,525.00 5.00
5. Net liquidity injected from today's
-3,95,738.00
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 1,04,250.00 5.26
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 6,687.34
E. Net liquidity injected from outstanding operations [injection
1,33,588.34
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,62,149.66
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on February 17, 2026 8,07,492.44
(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 17, 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: 2025-2026/2133 Deputy General Manager
(Communications)