**Executive Summary**
This is a press release from the Reserve Bank of India (RBI), dated January 02, 2026, providing details on money market operations as of January 01, 2026. It includes information on overnight and term money markets, RBI operations, reserve positions of scheduled commercial banks, and liquidity adjustments. The document references various press releases and notifications for related information.
**Key Points / Main Content**
* **Money Markets Operations (as on January 01, 2026):**
* **Overnight Segment:** Total volume of ₹6,47,648.53 Crore with a weighted average rate of 5.24% and a range of 0.01-6.40%. Includes call money, triparty repo, market repo, and repo in corporate bond.
* **Term Segment:** Includes notice money, term money, triparty repo, market repo, and repo in corporate bond with respective volumes and weighted average rates.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:**
* Repo Operation (Variable Rate): ₹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 (absorption)
* **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 (absorption)
* **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**
**Stakeholder: Scheduled Commercial Banks**
* **Impact:** Need to monitor and manage their cash reserves and liquidity positions in line with the RBI's monetary policy operations. Banks are affected by changes in repo rates, MSF rates, SDF rates, and overall liquidity conditions.
* **Action Required:** Banks must ensure compliance with cash reserve requirements and manage their participation in LAF, MSF, and SDF operations to optimize their liquidity and profitability.
**Stakeholder: Financial Market Participants**
* **Impact:** The information on money market rates and liquidity conditions affects trading and investment decisions in various financial instruments.
* **Action Required:** Participants need to analyze the data to understand the current monetary policy stance and anticipate future interest rate movements.
**Stakeholder: Government of India**
* **Impact:** The level of government surplus cash balance with the RBI can influence its borrowing program and overall fiscal management.
* **Action Required:** Monitor the surplus cash balance and coordinate with the RBI on managing government finances.
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact:** The data on money market operations, reserve positions, and liquidity conditions inform the RBI's monetary policy decisions.
* **Action Required:** Continuously monitor market conditions, adjust policy rates and liquidity management tools as needed to achieve monetary policy objectives.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for monetary policy and regulation of the banking system. It is the primary subject of the document as its operations and data are being reported.
Liquidity Adjustment Facility (LAF): A tool used by RBI to manage liquidity in the market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their government securities.
Standing Deposit Facility (SDF): A tool used by RBI to absorb liquidity from the banking system without any collateral.
Money Market Operations: General term encompassing the various transactions and instruments used in the short-term lending and borrowing of funds.
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)