Banks park ₹1,69,921 crore at RBI's SDF in a single day
Indian banks parked ₹1,69,921 crore with the Reserve Bank of India's standing deposit facility on 30 October, a one-day absorption that left net liquidity injected from today's operations at -₹1,22,343 crore, according to the RBI's money market operations release.
The SDF, which pays 5.25 per cent, took in the bulk of the cash. A one-day variable rate repo operation absorbed nothing, while a three-day SDF window drew a further ₹587 crore. On the injection side, the RBI lent ₹43,865 crore through a one-day marginal standing facility window at 5.75 per cent and ₹4,300 crore through a three-day MSF operation.
Outstanding operations added to the squeeze. A 29-day variable rate repo of ₹25,555 crore, auctioned on 8 October and maturing on 6 November at 5.49 per cent, left outstanding operations with net liquidity injected of -₹15,248.13 crore. Standing liquidity facility availed from the RBI stood at ₹10,306.87 crore.
In the overnight money market, the weighted average call rate was 5.40 per cent across ₹2,257.10 crore of trades, within a 4.85-5.75 per cent range. Triparty repo volumes reached ₹13,048.70 crore at a weighted average of 5.77 per cent, and repo in corporate bonds totalled ₹5,321.65 crore at 5.72 per cent. Term triparty repo was the largest segment at ₹5,06,012.55 crore, at a weighted average of 5.74 per cent.
Scheduled commercial banks held cash balances with the RBI of ₹8,54,675.19 crore as on 30 October, against an average daily cash reserve requirement of ₹8,33,309 crore for the fortnight ending 31 October. Net durable liquidity stood at a surplus of ₹10,14,401 crore as on 30 September, and the government's surplus cash balance reckoned for auction was nil.
