Money Market Operations as on March 02, 2026

**Executive Summary** This document, dated March 04, 2026, details the Reserve Bank of India's money market operations and reserve positions as of March 02, 2026. It provides data on various market segments, liquidity adjustment facility operations, and cash reserve positions of scheduled commercial banks. Key dates referenced for specific operations and data include March 02, 03, 04, 15, 30, and February 15, 2026. **Key Points / Main Content** **Money Market Operations (as on March 02, 2026)** * **Overnight Segment:** This segment includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond, with reported volumes and weighted average rates. * **Term Segment:** This segment comprises Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond, also detailing volumes and weighted average rates. **RBI Operations (as on March 02, 2026)** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:** * Fixed Rate operations were conducted with a rate of 5.00% for repo and 5.50% for reverse repo. * Variable Rate Repo operations on March 02, 2026, for a tenor of 1 day, had a cut-off rate of 5.50%. * Variable Rate Reverse Repo operations on March 02, 2026, for a tenor of 2 days, amounted to ₹740.00 crore at a cut-off rate of 5.50%. * SDF operations on March 02, 2026, for a tenor of 1 day, amounted to ₹3,22,495.00 crore at a rate of 5.00%. * SDF operations on March 02, 2026, for a tenor of 2 days, amounted to ₹67,121.00 crore at a rate of 5.00%. * The net liquidity injected from today's operations was ₹-3,88,871.00 crore. * **Outstanding Operations:** * Variable Rate Repo operations with a 90-day tenor, auctioned on January 30, 2026, and maturing on April 30, 2026, had an amount of ₹12,651.00 crore at a rate of 5.34%. * Variable Rate Reverse Repo operations with a 90-day tenor, auctioned on January 30, 2026, and maturing on April 30, 2026, had an amount of ₹1,03,875.00 crore at a rate of 5.26%. * Standing Liquidity Facility (SLF) availed from RBI amounted to ₹7,418.38 crore. * Net liquidity injected from outstanding operations was ₹1,23,944.38 crore. * The total net liquidity injected (outstanding including today's operations) was ₹-2,64,926.62 crore. **Reserve Position (as on specified dates)** * **Cash Reserves Position of Scheduled Commercial Banks:** * Cash balances with RBI as on March 02, 2026, were ₹8,19,096.00 crore. * Average daily cash reserve requirement for the fortnight ending March 15, 2026, was ₹7,63,554.00 crore. * **Government of India Surplus Cash Balance Reckoned for Auction:** As on March 02, 2026, this was ₹0.00 crore. * **Net Durable Liquidity:** As on February 15, 2026, this was ₹5,60,171.00 crore. **Impact Analysis** **Scheduled Commercial Banks** * **Impact:** Banks are directly involved in the money market operations detailed, including repo, reverse repo, MSF, and SDF. Their cash reserve positions and net liquidity are directly affected by these operations. * **Action Required:** Banks need to monitor and manage their liquidity based on the rates and volumes of these operations. They also need to ensure compliance with cash reserve requirements. **Reserve Bank of India (RBI)** * **Impact:** The RBI is the facilitator and regulator of these market operations, managing liquidity in the economy. The data reflects the efficacy of its monetary policy tools. * **Action Required:** The RBI will use this data to assess and manage overall liquidity conditions and to inform future monetary policy decisions.

Key Entities Referenced