**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 02, 2026, reports on money market operations as of January 01, 2026. It provides data on overnight and term segments, RBI operations like LAF, MSF, and SDF, and the cash reserve position of scheduled commercial banks. The report includes details on volumes, weighted average rates, and ranges for various money market instruments.
**Key Points / Main Content**
* **Money Markets**
* **Overnight Segment (I+II+III+IV):**
* Volume: ₹6,47,648.53 Crore, Weighted Average Rate: 5.24%, Range: 0.01-6.40%
* Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:**
* Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* Volumes and Weighted Average Rates are provided for each segment.
* **RBI Operations**
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF):
* **Today's Operations (January 01, 2026):**
* Repo Operation: ₹57,797.00 Crore at 5.26%
* MSF: ₹5,230.00 Crore at 5.50%
* SDFA: ₹97,680.00 Crore at 5.00%
* Net liquidity injected from today's operations: -₹34,653.00 Crore.
* **Outstanding Operations**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹10,787.70 Crore.
* Net liquidity injected from outstanding operations: ₹10,787.70 Crore.
* Net liquidity injected (outstanding including today's operations): -₹23,865.30 Crore.
* **Reserve Position**
* Cash Reserves Position of Scheduled Commercial Banks as on January 01, 2026: ₹7,94,731.83 Crore.
* Average daily cash reserve requirement for the fortnight ending January 15, 2026: ₹7,48,477.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on January 01, 2026: ₹57,797.00 Crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025: ₹3,25,160.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks need to be aware of the current rates, volumes, and ranges for various money market instruments for their liquidity management. They also need to be aware of the liquidity injected through the current RBI operations.
* **Action Required:** Banks must maintain the required cash reserves with RBI and monitor money market conditions to optimize their borrowing and lending activities.
**RBI (Reserve Bank of India)**
* **Impact:** The data provides insights into the effectiveness of its liquidity management operations (LAF, MSF, SDF) and the overall health of the money market.
* **Action Required:** Analyze the data to adjust monetary policy and liquidity management tools as necessary to maintain stability and support economic growth.
**Government of India**
* **Impact:** The government should be aware of the liquidity management operations of the RBI and of its surplus cash balance held by the RBI.
* **Action Required:** Monitor the data to understand the liquidity and interest rate environment and plan its borrowing programs accordingly.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India; responsible for monetary policy and regulation of the financial system.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow funds overnight from the RBI.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system.
Mumbai: Location of the RBI's Central Office.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
January 02, 2026
Money Market Operations as on January 01, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,47,648.53 5.24 0.01-6.40
I. Call Money 14,118.97 5.35 4.50-5.45
II. Triparty Repo 4,39,396.35 5.20 4.95-5.30
III. Market Repo 1,90,923.76 5.32 0.01-5.54
IV. Repo in Corporate Bond 3,209.45 5.45 5.35-6.40
B. Term Segment
I. Notice Money** 359.50 5.40 4.90-5.45
II. Term Money@@ 959.50 - 5.50-5.82
III. Triparty Repo 2,351.00 5.51 5.00-5.60
IV. Market Repo 4,925.52 5.50 5.40-5.55
V. Repo in Corporate Bond 0.00 - -
RBI OPERATIONS@ Auction Tenor Maturity Amount Current
Date (Days) Date Rate/Cut
off Rate
C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
I Today's Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Thu, 01/01/2026 1 Fri, 02/01/2026 57,797.00 5.26
(b) Reverse Repo Operation
3. MSF# Thu, 01/01/2026 1 Fri, 02/01/2026 5,230.00 5.50
4. SDFΔ# Thu, 01/01/2026 1 Fri, 02/01/2026 97,680.00 5.00
5. Net liquidity injected from today's
-34,653.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,787.70
E. Net liquidity injected from outstanding operations [injection
10,787.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-23,865.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 01, 2026 7,94,731.83
(ii) Average daily cash reserve requirement for the fortnight ending^ January 15, 2026 7,48,477.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ January 01, 2026 57,797.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025 3,25,160.00
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
- Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2025-2026/1201 dated September 30, 2025.
Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
# As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
^ As per the notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025.
Ajit Prasad
Press Release: 2025-2026/1829 Deputy General Manager
(Communications)