Explained on 26 October 2026. This is an educational answer drawn from the dated article below; examples are hypothetical unless a specific source observation is identified.
How it works
The distinction is between a flow and a stock. A flow needs a period; a stock needs an observation date. A complete system measure may also include drivers beyond repos. Keep the scope explicit rather than naming a small subset of operations the entire banking system’s liquidity position.
A simple example
Hypothetically, opening repo funding is ₹70,000 crore, new allotment is ₹30,000 crore and reversals are ₹50,000 crore. Closing outstanding funding is ₹50,000 crore. The net change is minus ₹20,000 crore even though a new auction supplied money.
What to check
- State whether a number is a balance or a transaction flow.
- Reconcile opening balance, additions and reversals.
- Disclose which operations the calculation includes.
Read the full event and evidence
RBI’s ₹1.5 Lakh Crore Four-Day Repo: A Liquidity Bridge, Not a Rate Cut explains the original event, its dates and the supporting documents. Event context: 23 October announcement for 26 October 2026.