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India liquidity regime today
How much cash the banking system is carrying, read straight from the RBI’s daily liquidity operations; a composite score that folds in rates, spreads, flows and reserves; and what foreign and domestic institutions did in the cash market last session.
RBI system liquidity
Banking system in surplus₹1.98 lakh crore
Derived from the LAF components: cash banks parked with the RBI (standing deposit facility) minus cash banks borrowed from it (repo and marginal standing facility). Parked money exceeding borrowed money means the system has more liquidity than it needs; the reverse means it is short.
- Parked at SDF
- ₹2.08 lakh crore
- Borrowed at MSF
- ₹10,288 crore
- Repo injection
- none reported
- Net LAF position
- −₹1.98 lakh crore
- Call money rate
- 5.50%
- Overnight volume
- ₹10.66 lakh crore
Standing deposit facility — surplus cash absorbed by RBI
Marginal standing facility — emergency overnight borrowing
Variable-rate and fixed-rate repo outstanding
RBI’s own sign: negative = RBI absorbing, positive = RBI injecting
Weighted overnight interbank rate
Total overnight money-market turnover
Composite liquidity score
42 / 100· Neutral
Model confidence 60% — lower when a component has no fresh input and falls back to a neutral value.
Percentile rank not shown: the feed returned a placeholder value for every look-back window.
| Component | Weight | Score |
|---|---|---|
| corridor (no fresh input, neutral) | 35% | 17.5 / 35 |
| laf | 20% | 0.1 / 20 |
| flows | 20% | 13.3 / 20 |
| spreads (no fresh input, neutral) | 15% | 7.5 / 15 |
| forex (no fresh input, neutral) | 10% | 4.0 / 10 |
The score weights the rate corridor position, the LAF position, institutional flows, money-market spreads and foreign-exchange reserves into one 0–100 number. Higher means more cash in the system and easier conditions.
FII and DII cash-market net, last session
- FII net · 28 Sep 2026
- −₹5,353 crore
- DII net · 28 Sep 2026
- +₹5,189 crore
- Combined
- −₹164 crore
- FII net · last 5 sessions
- −₹16,267 crore
- DII net · last 5 sessions
- +₹18,790 crore
Net outflow from foreign institutions
Net inflow from domestic institutions
FII plus DII net for the session
Show the last 5 sessions
| Session | FII net | DII net |
|---|---|---|
| 28 Sep 2026 | −₹5,353 crore | +₹5,189 crore |
| 25 Sep 2026 | −₹3,694 crore | +₹2,838 crore |
| 24 Sep 2026 | −₹5,027 crore | +₹4,301 crore |
| 23 Sep 2026 | +₹1,617 crore | +₹2,341 crore |
| 22 Sep 2026 | −₹3,810 crore | +₹4,120 crore |
Why this matters for equities
Equity prices are set at the margin by whoever has cash to deploy. When the banking system is in surplus, overnight rates sit at the floor of the RBI’s corridor, credit is cheap to roll, and the domestic institutions that receive steady SIP and insurance inflows can keep absorbing the stock that foreign investors are exiting; that is the backdrop in which drawdowns tend to be shallow and pullbacks tend to be met. When the system is in deficit, banks borrow at the top of the corridor, short-term rates rise, leverage becomes expensive, and every rupee of foreign outflow has to be matched by a rupee that was doing something else; drawdowns then run further before they find a bid. The composite score exists because no single series captures this: a surplus with heavy foreign outflows and a shrinking reserve position is a different regime from a surplus with inflows, even though the LAF number looks the same. None of these readings says what the index will do tomorrow; they describe the conditions it is trading in.
Data and method
- RBI Liquidity Adjustment Facility: daily money-market and LAF snapshot published by the RBI and CCIL, as of the previous business day.
- System position is derived on this page from the reported SDF, reverse-repo, repo and MSF volumes, not from a pre-computed label, and the sign rule is stated next to the number.
- FII/DII: NSE provisional cash-market figures for the session; provisional numbers are revised by the exchange the following day.
- Composite score: a 0–100 weighting of corridor position, LAF position, institutional flows, spreads and FX reserves; components without a fresh input fall back to a neutral contribution and reduce the stated confidence.
- The page is re-rendered at most every 15 minutes. Each section carries its own “as of” stamp because the sources publish on different schedules.
- Not shown on this render: percentile rank of the LAF position (the feed returned a placeholder).
- Related: NIFTY dealer positioning today and how often NIFTY levels have held.