**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 provides data on various market segments, including overnight, term, and RBI operations such as Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also details the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets (as of February 17, 2026)**
* Overnight Segment volume was ₹6,94,878.51 Crore, with a weighted average rate of 4.85% and a range of 4.00-5.20%.
* Term Segment data is also provided with separate weighted average rates and ranges for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations**
* **Today's Operations:**
* MSF: ₹787.00 Crore at 5.50%
* SDFA: ₹3,96,525.00 Crore at 5.00%
* Net liquidity injected from today's operations: -₹3,95,738.00 Crore.
* **Outstanding Operations:**
* Repo Operation: ₹22,651.00 Crore at 5.34% expiring on Thu, 30/04/2026.
* Repo Operation: ₹1,04,250.00 Crore at 5.26% expiring on Thu, 30/04/2026.
* 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 balances with RBI as on 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 as on February 17, 2026: ₹0.00.
* Net durable liquidity [surplus (+)/deficit (-)] as on January 31, 2026: ₹4,53,843.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Directly impacted by the cash reserve requirements and liquidity operations.
* **Action Required:** Must maintain required cash balances with the RBI and manage liquidity positions based on the reported data.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for monetary policy and regulating the Indian financial system; the primary entity conducting the money market operations described in the press release.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market 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 their excess statutory liquidity ratio (SLR) securities.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb excess liquidity from the commercial banks without requiring them to provide collateral.
Money Markets: The financial market in which short-term debt instruments (usually with a maturity of less than one year) are traded.
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)