RBI reports ₹30,685 crore net liquidity absorption

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Highlights

On June 21, 2026, the RBI recorded a net liquidity absorption of ₹1,43,642 crore and a net liquidity injection of negative ₹30,685.11 crore.
There were zero transactions in call money, triparty repo, market repo, and corporate bond repo in the overnight and term segments; no trades took place.
Scheduled commercial banks' cash balance stood at ₹8,04,550.83 crore and the net durable liquidity surplus as of May 31, 2026, was ₹4,86,400 crore.

This article was translated from the original. Read the original version by our correspondent here.

Details of Liquidity Operations on June 21

According to a press release from the Reserve Bank of India (RBI), net liquidity absorption in today’s operations on June 21, 2026, stood at ₹1,43,642 crore. On this day, ₹487 crore was recorded under the one-day MSF at 5.50 percent and ₹1,44,129 crore under the one-day SDF at 5.00 percent.

The report showed zero trading in the overnight segment, which includes call money, triparty repo, market repo, and repo in corporate bonds. Similarly, there were no transactions in the term segment, which includes notice money, term money, triparty repo, market repo, and corporate bond repo.

Outstanding operations included ₹16,750 crore from the three-day repo auction on June 19 and ₹89,440 crore from the seven-day repo auction on June 16, both remaining until maturity at a 5.26 percent cut-off rate. Additionally, SDF amounts for June 20 and June 19 were ₹2,460 crore and ₹1,541 crore, respectively, while the two-day MSF amount for June 20 was ₹33 crore.

The standing liquidity facility received from the RBI stood at ₹10,734.89 crore. Net liquidity injection from outstanding operations was ₹1,12,956.89 crore, but after including today’s operations, the total net liquidity injection came to a negative ₹30,685.11 crore.

Impact on the Banking System and Cash Reserves

As of June 21, 2026, scheduled commercial banks’ cash balances with the RBI stood at ₹8,04,550.83 crore. The average daily cash reserve ratio requirement for the fortnight ending June 30, 2026, was recorded at ₹8,01,069 crore, indicating that the banking system’s cash position remained above the regulatory requirement.

The Government of India’s surplus cash balance, considered for the June 19, 2026 auction, was ₹16,750 crore. Meanwhile, as of May 31, 2026, the net durable liquidity surplus was ₹4,86,400 crore, showing that despite daily absorption, the overall liquidity backdrop in the system remained in surplus.

Easing oil and fertilizer prices and the support they provide to India’s macroeconomic situation were discussed in our earlier report. It was noted that the prospect of a U.S.-Iran agreement has eased cost pressures on crude oil and fertilizers, and RBI’s measures to facilitate dollar flows are expected to boost interest from NRIs and foreign investors. At the same time, despite risks such as a weak monsoon, the impact of AI on employment, and declining fertility rates, the report also emphasized policy-level preparedness and the economy’s resilience.

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