National News (09 September 2026): The Reserve Bank of India (RBI) absorbed a net ₹10.49 lakh crore of liquidity from the banking system through its outstanding and current-day operations as of September 8, according to the latest money market operations data released by the central bank.
The RBI’s data showed that activity in the overnight money market remained substantial, with total transactions across call money, triparty repo, market repo and repo in corporate bonds reaching ₹6,83,354.04 crore on September 8. The weighted average rate across the overnight segment stood at 4.53 per cent, while transaction rates ranged between 1 per cent and 5.90 per cent.
Triparty repo accounts for largest share
Triparty repo transactions constituted the largest component of the overnight money market. The segment recorded a one-leg volume of ₹4,85,700.60 crore, with a weighted average rate of 4.58 per cent and a rate range of 2.57 per cent to 4.80 per cent.
Market repo transactions stood at ₹1,81,433.83 crore, with the weighted average rate at 4.36 per cent. Call money transactions amounted to ₹9,896.91 crore, recording a weighted average rate of 4.98 per cent. Repo transactions in corporate bonds registered a volume of ₹6,322.70 crore, with the weighted average rate at 4.93 per cent.
Term money market activity
In the term segment, notice money transactions stood at ₹197 crore, with a weighted average rate of 4.88 per cent. Term money transactions amounted to ₹596 crore, with rates ranging between 5.20 per cent and 5.75 per cent.
Triparty repo transactions in the term segment stood at ₹1,115 crore, while market repo transactions amounted to ₹1,568.94 crore. The weighted average rate for market repo was 5.25 per cent. Repo transactions involving corporate bonds recorded a volume of ₹1,083 crore, with the weighted average rate at 6.75 per cent.
RBI absorbs ₹6.60 lakh crore through day’s operations
According to the RBI, the central bank’s operations conducted on September 8 resulted in net liquidity absorption of ₹6,59,910 crore. The day’s operations included a variable-rate reverse repo of ₹4,17,609 crore for a one-day tenor at a current rate of 5.24 per cent. The maturity date for the operation is September 9, 2026.
The RBI also recorded ₹37 crore under the Marginal Standing Facility (MSF) at 5.50 per cent, while ₹2,42,338 crore was placed under the Standing Deposit Facility (SDF) at 5 per cent.
Outstanding operations add to liquidity absorption
The central bank’s outstanding operations also continued to contribute to the overall liquidity position. A variable-rate operation of ₹1,34,625 crore conducted on August 31 for a 15-day tenor is scheduled to mature on September 15. Another operation of ₹2,59,276 crore, conducted on September 7 for a 30-day tenor, is scheduled to mature on October 7. Both operations carried a rate of 5.24 per cent.
After accounting for outstanding operations, the RBI reported net liquidity absorption of ₹3,88,994.94 crore. Combining the current-day and outstanding operations, the overall net liquidity absorbed from the system stood at ₹10,48,904.94 crore.
Banks’ cash balances remain close to reserve requirement
The data also showed that scheduled commercial banks maintained ₹8,02,660.25 crore in cash balances with the RBI as of September 8. The average daily cash reserve requirement for the fortnight ending September 15 stood at ₹8,10,284 crore. The Government of India’s surplus cash balance considered for auction purposes was reported at zero as of September 8.
The RBI also reported net durable liquidity of ₹8,05,736 crore as of August 15, indicating the prevailing liquidity conditions in the banking system. The latest figures provide an indication of the scale of liquidity management operations being undertaken by the RBI and the level of activity across India’s short-term money markets.
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