**Executive Summary**
This document provides a snapshot of Money Market Operations and Reserve Positions as of March 4, 2026. It details various market segments, liquidity facilities, and cash reserve positions of scheduled commercial banks. Key deadlines and dates are referenced in footnotes pertaining to specific notifications and press releases, primarily within the 2025-2026 fiscal year.
**Key Points / Main Content**
* **Money Markets Operations:**
* The Overnight Segment shows significant volume in Call Money (₹6,76,443.55 crore) and Market Repo (₹4,68,028.85 crore) with weighted average rates ranging from 4.89% to 4.85% respectively.
* The Term Segment includes Notice Money and Term Money, with Term Money having a weighted average rate of 5.75-6.75%.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* Today's Operations include a Repo Operation of ₹1,048.00 crore at 5.50% and an SDF Operation of ₹3,92,452.00 crore at 5.00%.
* The net liquidity injected from today's operations is a withdrawal of ₹3,91,404.00 crore.
* **Outstanding Operations:**
* Outstanding Repo Operations total ₹12,651.00 crore at 5.34% and ₹1,03,875.00 crore at 5.26%.
* The net liquidity injected from outstanding operations is ₹1,23,944.38 crore.
* The overall net liquidity injected (including today's and outstanding operations) is a withdrawal of ₹2,67,459.62 crore.
* **Reserve Positions:**
* Cash balances of Scheduled Commercial Banks with the RBI as of March 4, 2026, stand at ₹7,91,530.20 crore.
* The average daily cash reserve requirement for the fortnight ending March 15, 2026, is ₹7,63,554.00 crore.
* Net durable liquidity as of February 15, 2026, shows a surplus of ₹5,60,171.00 crore.
**Impact Analysis**
* **Scheduled Commercial Banks**
* **Impact:** These institutions are directly involved in the money market operations, utilizing facilities like LAF, MSF, and SDF. Their cash reserve positions and liquidity are detailed, indicating their participation and the state of their reserves with the RBI.
* **Action Required:** Banks need to monitor their liquidity positions, manage their cash reserves in line with regulatory requirements, and adjust their operations based on the rates and volumes reported for various market segments and facilities.
* **Reserve Bank of India (RBI)**
* **Impact:** The RBI acts as the facilitator and regulator of these money market operations, managing liquidity through its various facilities and influencing rates.
* **Action Required:** The RBI utilizes this data to monitor market conditions, implement monetary policy, and ensure financial stability. It will continue to issue notifications and press releases to guide market participants.
Key Entities Referenced
Reserve Bank of India: The central bank responsible for issuing the press release and conducting money market operations.
Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF): Key monetary policy tools used by the Reserve Bank of India to manage liquidity in the banking system.
Press Release No. 2025-2026/1201 dated September 30, 2025: A referenced press release that provides context or basis for certain figures or calculations.
Notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025: A referenced notification that likely pertains to the average daily cash reserve requirement.
Mumbai: The location of the Reserve Bank of India's Central Office, relevant to the operational context.
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
March 05, 2026
Money Market Operations as on March 04, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,76,443.55 4.89 1.00-6.15
I. Call Money 10,966.48 5.11 4.50-5.20
II. Triparty Repo 4,68,028.85 4.85 4.00-4.94
III. Market Repo 1,90,393.42 4.97 1.00-5.15
IV. Repo in Corporate Bond 7,054.80 5.15 5.02-6.15
B. Term Segment
I. Notice Money** 11.00 4.85 4.80-5.00
II. Term Money@@ 732.00 - 5.75-6.75
III. Triparty Repo 2,409.50 4.93 4.70-5.10
IV. Market Repo 905.83 5.05 5.00-5.10
V. Repo in Corporate Bond 200.00 5.30 5.30-5.30
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# Wed, 04/03/2026 1 Thu, 05/03/2026 1,048.00 5.50
4. SDFΔ# Wed, 04/03/2026 1 Thu, 05/03/2026 3,92,452.00 5.00
5. Net liquidity injected from today's
-3,91,404.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Fri, 30/01/2026 90~ Thu, 30/04/2026 12,651.00 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
1,23,944.38
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,67,459.62
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on March 04, 2026 7,91,530.20
(ii) Average daily cash reserve requirement for the fortnight ending^ March 15, 2026 7,63,554.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ March 04, 2026 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on February 15, 2026 5,60,171.00
@ 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: 2025-2026/2211 Deputy General Manager
(Communications)