The Reserve Bank of India (RBI) absorbed a net ₹1.97 trillion in liquidity on Nov. 5 as overnight money-market trading reached ₹7.90 trillion and the weighted average rate rose to 5.55%.
The RBI’s daily table showed net absorption of ₹1,96,658.13 crore after outstanding operations were included. It published the figures Nov. 6. Overnight transactions totaled ₹7,89,757.11 crore, up ₹59,019.77 crore from Nov. 4, while the weighted average rate was 5.53% on that previous reporting day.
Triparty repo made up ₹5,72,289.15 crore of overnight volume, with a 5.53% weighted average rate. Market repo totaled ₹1,95,543.41 crore at 5.61%; call money was ₹14,431.90 crore at 5.63%, and corporate-bond repo was ₹7,492.65 crore at 5.71%.
Same-day operations included ₹1,77,942 crore placed through the Standing Deposit Facility at 5.25%, ₹4,299 crore borrowed under the Marginal Standing Facility at 5.75%, and ₹7,767 crore accepted through a one-day variable-rate reverse-repo auction at 5.49%. The accepted auction amount was below the notified ₹75,000 crore. Those day’s transactions produced net absorption of ₹1,81,410 crore; the total was ₹1,96,658.13 crore when outstanding operations were counted.
The RBI calculates net liquidity by adding repo and lending facilities, then subtracting reverse repos and Standing Deposit Facility placements. A negative result denotes net absorption. The central bank reported ₹2,03,088.13 crore in net absorption on Nov. 2 in earlier coverage of RBI liquidity operations.
The RBI’s table also listed scheduled commercial banks’ cash balances at ₹8,45,116.17 crore on Nov. 5 and the average daily cash-reserve requirement at ₹8,16,655 crore for the fortnight ending Nov. 15. Separately, net durable liquidity stood at ₹7,93,409 crore as of Oct. 15.
On Nov. 6, the RBI accepted ₹18,133 crore in a three-day variable-rate reverse-repo auction, below the ₹25,000 crore it had notified. The weighted average rate was 5.49%. The central bank had said it scheduled the operation after reviewing current and evolving liquidity conditions.
