Executive Summary
All seven filings pertain to RBI liquidity management operations, revealing a consistent surplus liquidity environment with subdued demand for reverse repo auctions.
The 7-day VRRR auction on August 10 saw bids of only ₹95,810 crore against a notified ₹2,00,000 crore (48% subscription), while the overnight VRRR attracted ₹58,671 crore against ₹1,00,000 crore (59% subscription), indicating banks' preference for shorter tenors and ample liquidity. The daily money market reports show net absorption ranging from ₹2,25,265 crore to ₹3,48,771 crore, with SDF absorbing large amounts at 5.00% and MSF providing minimal injections at 5.50%. The weighted average overnight rate was 4.97% on August 7, below the SDF rate of 5.00%, suggesting excess liquidity. Cash reserves of banks are below the average daily requirement (₹7,84,972.59 crore vs ₹8,03,001 crore), indicating slight cash shortfall despite surplus system liquidity. No forward-looking guidance, insider activity, or capital allocation changes are present; all filings are neutral in sentiment with low materiality except the 7-day auction (materiality 10/10). The key implication is that the RBI's liquidity management is absorbing surplus without signaling a rate change, and the market should monitor upcoming auctions for shifts in liquidity demand.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Tracking the trend? Catch up on the prior India Monetary Policy RBI MPC Decisions digest from August 07, 2026.
Investment Signals (7)
- RBI 7-Day VRRR Auction (NEUTRAL)▲
Bids received at ₹95,810 crore vs notified ₹2,00,000 crore (48% subscription), cut-off at 5.24%
- RBI Overnight VRRR Auction (NEUTRAL)▲
Bids at ₹58,671 crore vs ₹1,00,000 crore (59% subscription), cut-off at 5.24%
- RBI Money Market Operations (Aug 9) (NEUTRAL)▲
Net absorption of ₹3,48,771.34 crore, with no overnight transactions, indicating surplus liquidity
- RBI Money Market Operations (Aug 7) (NEUTRAL)▲
Overnight weighted average rate at 4.97% (below SDF rate of 5.00%), call money at 5.09%, triparty repo at 4.96%
- RBI Money Market Operations (Aug 8) (NEUTRAL)▲
SDF absorbed ₹2,26,203 crore at 5.00%, MSF injected only ₹938 crore at 5.50%, net absorption ₹2,25,265 crore
- RBI 3-Day VRRR Auction Announcement (NEUTRAL)▲
Scheduled for Aug 11, 2026, to manage liquidity
- RBI Overnight VRRR Auction Announcement (NEUTRAL)▲
Scheduled for Aug 10, 2026, part of LAF
Risk Flags (6)
- RBI 7-Day VRRR Auction [MEDIUM RISK]▼
Low subscription (48%) may indicate banks' reluctance to lock in funds at 5.24%, potentially signaling expectations of rate cuts
- RBI Overnight VRRR Auction [LOW RISK]▼
Shortfall of ₹41,329 crore vs notified amount suggests subdued demand for parking liquidity, possibly due to better alternative uses
- RBI Money Market Operations (Aug 9) [MEDIUM RISK]▼
Cash reserves of banks (₹7,84,972.59 crore) below average daily requirement (₹8,03,001 crore) for fortnight ending Aug 15, indicating potential liquidity tightness despite surplus
- RBI Money Market Operations (Aug 8) [MEDIUM RISK]▼
Cash reserves (₹7,83,902.81 crore) also below requirement (₹8,03,001 crore), consistent with Aug 9 data
- RBI Money Market Operations (Aug 7) [LOW RISK]▼
Overnight rate at 4.97% below SDF rate of 5.00% may indicate excess liquidity, but could also signal market expectations of rate cuts
- RBI 3-Day VRRR Auction [LOW RISK]▼
Upcoming auction may face similar low subscription if liquidity conditions persist
Opportunities (5)
- RBI 7-Day VRRR Auction (OPPORTUNITY)◆
Cut-off at 5.24% offers a risk-free yield for banks; investors can monitor for potential arbitrage in money market instruments
- RBI Overnight VRRR Auction (OPPORTUNITY)◆
Similar yield at 5.24% for short-term parking; useful for cash management
- RBI Money Market Operations (Aug 7) (OPPORTUNITY)◆
Overnight rate at 4.97% suggests potential for carry trades in repo markets
- RBI Money Market Operations (Aug 8) (OPPORTUNITY)◆
SDF absorbing large amounts at 5.00% indicates stable short-term rates; opportunities in fixed income
- RBI 3-Day VRRR Auction (OPPORTUNITY)◆
Scheduled for Aug 11, may provide better yield for 3-day tenor; watch for subscription levels
Sector Themes (4)
- Surplus Liquidity in Banking System◆
All filings indicate net absorption of liquidity, with amounts ranging from ₹2,25,265 crore to ₹3,48,771 crore, reflecting ample surplus [IMPLICATION: Stable short-term rates, but potential for rate cuts if surplus persists]
- Subdued Demand for Reverse Repo◆
Both VRRR auctions saw subscription below notified amounts (48% and 59%), suggesting banks prefer other instruments or expect rate cuts [IMPLICATION: RBI may need to adjust auction sizes or rates]
- Cash Reserve Shortfall◆
Banks' cash reserves are consistently below the average daily requirement, indicating potential liquidity management challenges despite system surplus [IMPLICATION: Possible short-term borrowing needs]
- Routine Liquidity Operations◆
All filings are routine RBI operations with neutral sentiment, indicating no policy shift [IMPLICATION: Market stability, but watch for any changes in auction patterns]
Watch List (5)
- RBI 3-Day VRRR Auction👁
Scheduled for Aug 11, 2026; watch for subscription levels and cut-off rate to gauge liquidity demand
- RBI Overnight VRRR Auction👁
Already conducted on Aug 10; monitor subsequent auctions for trends
- RBI Money Market Operations👁
Continue monitoring daily reports for changes in net absorption and cash reserve levels
- RBI Policy Statement👁
Any upcoming MPC meeting or policy announcement could signal rate changes; watch for dates
- Bank Cash Reserves👁
Monitor if cash reserves continue to fall below requirements, potentially leading to tighter liquidity
Filing Analyses
(7)
10-08-2026
The Reserve Bank of India conducted an Overnight Variable Rate Reverse Repo (VRRR) auction on August 10, 2026, accepting ₹58,671 crore out of a notified amount of ₹1,00,000 crore at a cut-off rate of 5.24%. The auction saw bids totaling only ₹58,671 crore, indicating a shortfall of ₹41,329 crore relative to the notified amount, reflecting subdued demand from banks for parking excess liquidity with the RBI.
- · The auction tenor was 1-day.
- · Total offers received matched the amount accepted at ₹58,671 crore.
- · The weighted average rate was also 5.24%, identical to the cut-off rate.
- · Partial acceptance percentage of offers at cut-off rate is marked as NA.
- · The press release is numbered 2026-2027/848.
10-08-2026
This is a routine daily press release from the Reserve Bank of India (RBI) reporting money market operations as of August 9, 2026. It is not a company-specific filing and contains no material financial information for any individual entity. The data shows net liquidity absorption of ₹3,48,771.34 crore from outstanding and today's operations, with no overnight segment transactions recorded.
- · No overnight segment transactions occurred on August 9, 2026 (volume ₹0.00 crore across all four sub-segments).
- · The Standing Deposit Facility (SDF) rate is 5.00% and the Marginal Standing Facility (MSF) rate is 5.50%.
- · Cash reserves of scheduled commercial banks stood at ₹7,84,972.59 crore, below the average daily requirement of ₹8,03,001 crore for the fortnight ending August 15, 2026.
- · Government of India surplus cash balance reckoned for auction was ₹0.00 crore as of August 7, 2026.
10-08-2026
The Reserve Bank of India announced it will conduct a 3-day Variable Rate Reverse Repo (VRRR) auction under the Liquidity Adjustment Facility (LAF) on August 11, 2026. This is a routine monetary policy operation to manage liquidity in the banking system, not a company-specific event.
- · The auction is for a 3-day tenor.
- · The auction date is August 11, 2026.
- · The announcement was made on August 10, 2026.
10-08-2026
The Reserve Bank of India (RBI) published its daily money market operations report for August 7, 2026, detailing volumes and rates across overnight and term segments. The overnight segment saw a total volume of ₹6,13,168.96 crore at a weighted average rate of 4.97%, while the central bank's liquidity operations resulted in a net absorption of ₹2,29,969.00 crore from today's operations. The report indicates a net durable liquidity surplus of ₹5,36,080.00 crore as of July 15, 2026, reflecting ample liquidity in the banking system.
- · Overnight weighted average rate was 4.97% with a range of 2.00-5.35%.
- · Call Money weighted average rate was 5.09% (range 4.00-5.15%).
- · Triparty Repo (overnight) weighted average rate was 4.96% (range 4.80-5.05%).
- · Market Repo (overnight) weighted average rate was 5.00% (range 2.00-5.25%).
- · Repo in Corporate Bond (overnight) weighted average rate was 5.24% (range 5.15-5.35%).
- · Term segment rates: Notice Money 5.01%, Term Money range 5.45-6.15%, Triparty Repo 5.09%, Market Repo 5.20%.
- · MSF rate was 5.50% and SDF rate was 5.00%.
- · Outstanding variable rate reverse repo operation had a cut-off rate of 5.24%.
- · Net durable liquidity surplus of ₹5,36,080.00 crore as of July 15, 2026.
- · Cash balances with RBI were below the average daily cash reserve requirement by about ₹18,549.46 crore.
- · No Government of India surplus cash balance was reckoned for auction.
10-08-2026
The Reserve Bank of India conducted a 7-day Variable Rate Reverse Repo (VRRR) auction on August 10, 2026, with a notified amount of ₹2,00,000 crore. The auction received bids totaling ₹95,810 crore, all of which were accepted at a cut-off rate of 5.24%.
- · The auction was a 7-day Variable Rate Reverse Repo (VRRR) auction.
- · The notified amount was ₹2,00,000 crore.
- · Total offers received and accepted were ₹95,810 crore.
- · The cut-off rate and weighted average rate were both 5.24%.
- · Partial acceptance percentage was NA.
10-08-2026
The Reserve Bank of India (RBI) announced it will conduct an Overnight Variable Rate Reverse Repo (VRRR) auction under the Liquidity Adjustment Facility (LAF) on August 10, 2026. This is a routine monetary policy operation to manage liquidity in the banking system, with no specific financial figures disclosed.
- · The auction is scheduled for August 10, 2026.
- · The auction is part of the RBI's liquidity management operations.
10-08-2026
This is a routine daily publication by the Reserve Bank of India (RBI) detailing money market operations as of August 8, 2026. It reports no overnight segment transactions, while the Standing Deposit Facility (SDF) saw a large absorption of ₹2,26,203 crore at a 5.00% rate, and the Marginal Standing Facility (MSF) had a small injection of ₹938 crore at 5.50%. The net liquidity absorbed from today's operations was ₹2,25,265 crore, and outstanding operations show a net absorption of ₹3,49,930.34 crore, indicating a surplus liquidity environment.
- · No transactions occurred in the overnight segment (Call Money, Triparty Repo, Market Repo, Repo in Corporate Bond) on August 8, 2026.
- · The Standing Deposit Facility (SDF) rate is 5.00%, and the Marginal Standing Facility (MSF) rate is 5.50%.
- · The average daily cash reserve requirement for scheduled commercial banks for the fortnight ending August 15, 2026, is ₹8,03,001 crore, while actual cash balances were ₹7,83,902.81 crore as of August 8, 2026.
- · Government of India surplus cash balance reckoned for auction as of August 7, 2026, was nil.
Get daily alerts with 7 investment signals, 6 risk alerts, 5 opportunities and full AI analysis of all 7 filings
₹500/mo after a 14-day free trial — no credit card required. See pricing or explore intelligence streams.
More from: India Monetary Policy RBI MPC Decisions
🇮🇳 More from India
View all →August 10, 2026
India Pre-Market Regulatory Roundup — August 10, 2026
India Pre-Market Regulatory Roundup
August 10, 2026
India Quarterly Results BSE NSE Announcements — August 10, 2026
India Quarterly Results BSE NSE Announcements
August 10, 2026
India Upcoming Corporate Actions BSE NSE — August 10, 2026
India Upcoming Corporate Actions BSE NSE
August 10, 2026
India MCA Corporate Compliance Enforcement — August 10, 2026
India MCA Corporate Compliance Enforcement