Money Market Operations as on August 3, 2026

Key Facts

Date: August 3, 2026
Total Overnight Volume: ₹6,56,420.66 crore
Weighted Average Rate: 4.96%
Rate Range: 2.50% - 5.40%
Call Money Volume: ₹12,835.57 crore
Triparty Repo Volume: ₹4,62,245.85 crore

Background

The Reserve Bank of India (RBI) publishes daily money market operations data, providing a snapshot of liquidity conditions and short-term interest rates in the banking system. The data covers various segments, including call money, triparty repo, and market repo, which are key indicators of interbank lending activity.

On August 3, 2026, the RBI reported the overnight segment's total volume, weighted average rate, and the range of rates at which transactions occurred. This information helps market participants gauge the availability of funds and the cost of borrowing in the overnight market.

Current Situation

According to the RBI's press release, the overnight segment (comprising call money, triparty repo, and market repo) recorded a total volume of ₹6,56,420.66 crore. The weighted average rate for these transactions was 4.96 per cent, with rates ranging from 2.50 per cent to 5.40 per cent.

Within the overnight segment, the call money market saw a volume of ₹12,835.57 crore at a weighted average rate of 5.10 per cent, with rates between 4.60 per cent and 5.25 per cent. The triparty repo segment dominated with a volume of ₹4,62,245.85 crore, at a weighted average rate of 4.94 per cent, and rates ranging from 4.65 per cent to 5.10 per cent.

The market repo segment recorded a volume of ₹1,74,717.49 crore, with a weighted average rate of 5.00 per cent and a rate range of 2.50 per cent to 5.25 per cent. These figures reflect the day's activity in India's overnight money market.

Overnight Money Market Segments on August 3, 2026
Segment	Volume (₹ crore)	Weighted Average Rate (%)	Rate Range (%)
Overnight Segment (I+II+III+IV)	6,56,420.66	4.96	2.50-5.40
I. Call Money	12,835.57	5.10	4.60-5.25
II. Triparty Repo	4,62,245.85	4.94	4.65-5.10
III. Market Repo	1,74,717.49	5.00	2.50-5.25

Source: RBI Press Release dated August 4, 2026.

Impacts

The reported volumes and rates indicate the level of liquidity and borrowing costs in the banking system. A higher volume in triparty repo suggests active collateralized lending among banks, while the weighted average rates provide a benchmark for short-term funding.

Banks and financial institutions that rely on the overnight market for liquidity management may be affected by these rates. The range of rates, particularly the low of 2.50 per cent in market repo, could indicate varied credit conditions among participants.

The data also serves as a reference for the RBI's monetary policy operations, as the central bank monitors these rates to assess whether liquidity is adequate and whether policy transmission is effective.

Future Outlook

Scenario analysis: The possibilities below are not certain predictions.

If the weighted average rate remains close to the RBI's policy repo rate, it may suggest that liquidity conditions are balanced. However, if rates deviate significantly, the RBI could conduct open market operations or variable rate repos to adjust liquidity.

Market participants may watch for any changes in the RBI's liquidity management stance in the coming days. If the overnight rates continue to stay within the current range, it could indicate stable short-term funding conditions.

However, if external factors such as government spending or foreign capital flows alter liquidity, the rates could move. The RBI's future actions will depend on evolving conditions, and the impact on borrowing costs will become clearer in subsequent data releases.

Source: भारतीय रिजर्व बैंक

AMRIT EXPLAINER