**Executive Summary**
This document details the Reserve Bank of India's money market operations as of February 26, 2026. It provides data on various money market segments and the Reserve Bank's liquidity management facilities. Key operations include the Liquidity Adjustment Facility, Marginal Standing Facility, and Standing Deposit Facility, with specific figures for today's and outstanding operations.
**Key Points / Main Content**
* **Money Market Operations Overview (February 26, 2026)**
* The Overnight Segment had a total volume of ₹6,65,515.84 crore, with a weighted average rate of 4.89% and a range of 3.00%-6.10%.
* Within the Overnight Segment, Call Money transactions amounted to ₹13,132.07 crore at a weighted average rate of 5.08%.
* Market Repo transactions within the Overnight Segment were ₹4,64,277.75 crore at 4.90%.
* Repo in Corporate Bond under the Overnight Segment recorded ₹1,83,308.92 crore at 4.87%.
* The Term Segment saw Notice Money transactions of ₹113.60 crore at 5.03%.
* **RBI Operations: Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)**
* **Today's Operations (February 26, 2026):**
* Fixed Rate Repo Operations were ₹762.00 crore at a current rate of 5.50%.
* Fixed Rate SDF operations were ₹3,45,621.00 crore at a current rate of 5.00%.
* Net liquidity injected from today's operations was -₹3,44,859.00 crore (absorption).
* **Outstanding Operations:**
* Variable Rate Repo Operations (90-day tenor) amounted to ₹22,651.00 crore at 5.34%.
* Variable Rate Reverse Repo Operations (90-day tenor) amounted to ₹1,03,875.00 crore at 5.26%.
* Net liquidity injected from outstanding operations was ₹1,33,944.38 crore (injection).
* **Reserve Position of Scheduled Commercial Banks**
* Cash balances with RBI as on February 26, 2026, were ₹7,33,015.04 crore.
* Government of India's Surplus Cash Balance reckoned for Auction as on February 26, 2026, was ₹0.00 crore.
* Net durable liquidity (surplus (+)/deficit (-)) as on January 31, 2026, was ₹4,53,843.00 crore.
**Impact Analysis**
* **Scheduled Commercial Banks**
* **Impact:** Banks are directly involved in these money market operations and are subject to the rates and volumes reported. The liquidity injections and absorptions impact their day-to-day cash management. Their cash reserves with the RBI are also reported.
* **Action Required:** Banks should monitor these figures for their liquidity planning and adherence to reserve requirements.
* **Reserve Bank of India (RBI)**
* **Impact:** The RBI is the operator of these facilities, managing liquidity in the system through these operations. The data reflects the effectiveness of its monetary policy tools.
* **Action Required:** The RBI will use this data to assess current liquidity conditions and make future policy decisions.
* **Market Participants (Broader)**
* **Impact:** Other market participants, such as financial institutions and corporations engaged in money market transactions, are influenced by the reported volumes and rates, which affect their funding costs and investment yields.
* **Action Required:** Participants should review this report to understand prevailing market conditions and adjust their strategies accordingly.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for monetary policy and financial regulation, as evidenced by its publication of the money market operations report.
Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF): Key monetary policy tools used by the RBI to manage liquidity in the banking system, detailed in the report.
Press Release No. 2025-2026/1201 dated September 30, 2025: A referenced press release that likely contains details related to the operations or policies mentioned in the report.
Notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025: A referenced notification that likely governs the cash reserves position of scheduled commercial banks.
Mumbai: The location of the Reserve Bank of India's central office, relevant due to the publication originating from this address.
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 27, 2026
Money Market Operations as on February 26, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,65,515.84 4.89 3.00-6.10
I. Call Money 13,132.07 5.08 4.50-5.20
II. Triparty Repo 4,64,277.75 4.90 4.80-5.02
III. Market Repo 1,83,308.92 4.87 3.00-5.22
IV. Repo in Corporate Bond 4,797.10 5.13 5.10-6.10
B. Term Segment
I. Notice Money** 113.60 5.03 4.85-5.10
II. Term Money@@ 211.00 - 5.50-5.80
III. Triparty Repo 602.00 5.01 4.85-5.20
IV. Market Repo 258.55 5.14 5.10-5.25
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# Thu, 26/02/2026 1 Fri, 27/02/2026 762.00 5.50
4. SDFΔ# Thu, 26/02/2026 1 Fri, 27/02/2026 3,45,621.00 5.00
5. Net liquidity injected from today's
-3,44,859.00
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 1,03,875.00 5.26
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 7,418.38
E. Net liquidity injected from outstanding operations [injection
1,33,944.38
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,10,914.62
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on February 26, 2026 7,33,015.04
(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 26, 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: 2025-2026/2180 Deputy General Manager
(Communications)