**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated January 05, 2026, providing an overview of money market operations as of January 02, 2026. It details volumes, weighted average rates, and ranges for overnight and term segments, along with RBI operations, including liquidity adjustment facilities and standing facilities. It also presents cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (as on January 02, 2026)**
* **Overnight Segment:** Total volume is ₹10,501.19 Crore, with a weighted average rate of 5.27% and a range of 4.50-6.35%.
* Call Money: Volume ₹1,214.30 Crore, rate 4.93%, range 4.50-5.45%.
* Triparty Repo: Volume ₹6,228.50 Crore, rate 5.25%, range 4.80-5.60%.
* Market Repo: Volume ₹150.64 Crore, rate 5.15%, range 4.50-5.20%.
* Repo in Corporate Bond: Volume ₹2,907.75 Crore, rate 5.45%, range 5.40-6.35%.
* **Term Segment:** Total volume ₹18,400.80 Crore, with a weighted average rate of 5.39% and a range of 4.60-5.50%.
* Notice Money: Volume ₹1,742.80 Crore, rate 5.35-5.87%.
* Term Money: Volume ₹4,46,330.05 Crore, rate 5.22%, range 5.17-5.60%.
* Triparty Repo: Volume ₹2,04,573.10 Crore, rate 5.10%, range 0.01-5.65%.
* Market Repo: Volume ₹0.00 Crore.
* Repo in Corporate Bond: Volume ₹0.00 Crore.
* **RBI Operations (Today's Operations - Fri, 02/01/2026)**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)**
* **Variable Rate Repo Operation:** ₹25,795.00 Crore with a rate of 5.26%, tenor of 5 days maturing on 07/01/2026.
* **MSF:** ₹1,191.00 Crore, ₹0.00 Crore, and ₹525.00 Crore, with a rate of 5.50%, tenor of 1, 2, and 3 days maturing on 03/01/2026, 04/01/2026, and 05/01/2026, respectively.
* **SDF:** ₹98,231.00 Crore, ₹0.00 Crore, and ₹1,410.00 Crore, with a rate of 5.00%, tenor of 1, 2, and 3 days maturing on 03/01/2026, 04/01/2026, and 05/01/2026, respectively.
* Net liquidity absorbed from today's operations: ₹-72,130.00 Crore.
* **Outstanding Operations**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹10,682.70 Crore.
* Net liquidity injected from outstanding operations: ₹10,682.70 Crore.
* Net liquidity injected (outstanding including today's operations): ₹-61,447.30 Crore.
* **Reserve Position (G) Cash Reserves Position of Scheduled Commercial Banks**
* Cash balances with RBI as on January 02, 2026: ₹7,81,402.30 Crore.
* Average daily cash reserve requirement for the fortnight ending January 15, 2026: ₹7,48,477.00 Crore.
* **Reserve Position (H) Government of India Surplus Cash Balance Reckoned for Auction as on January 02, 2026:** ₹25,795.00 Crore.
* **Reserve Position (I) Net durable liquidity as on December 12, 2025:** ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact**: Banks are directly impacted by the details of money market operations as it informs their liquidity management and borrowing/lending strategies.
* **Action Required**: Review the details of LAF, MSF, and SDF operations to make informed decisions about their participation in these facilities. Monitor their cash reserve positions to ensure compliance with RBI requirements.
**Government of India**
* **Impact**: The Government is a key stakeholder as the document provides a view of their surplus cash balance reckoned for auction.
* **Action Required**: The data can be used for Government fiscal planning.
**Financial Markets Participants (Investors, Traders)**
* **Impact**: Understanding of market liquidity and interest rate trends for trading and investment strategies.
* **Action Required**: Analyze data to refine strategies and risk management.
Key Entities Referenced
Reserve Bank of India: Central bank of India; primary regulator for the operations described.
Liquidity Adjustment Facility (LAF): A tool used by RBI to manage liquidity in the money 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.
Standing Deposit Facility (SDF): A tool used by RBI to absorb liquidity from the banking system.
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 05, 2026
Money Market Operations as on January 02, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 10,501.19 5.27 4.50-6.35
I. Call Money 1,214.30 4.93 4.50-5.45
II. Triparty Repo 6,228.50 5.25 4.80-5.60
III. Market Repo 150.64 5.15 4.50-5.20
IV. Repo in Corporate Bond 2,907.75 5.45 5.40-6.35
B. Term Segment
I. Notice Money** 18,400.80 5.39 4.60-5.50
II. Term Money@@ 1,742.80 - 5.35-5.87
III. Triparty Repo 4,46,330.05 5.22 5.17-5.60
IV. Market Repo 2,04,573.10 5.10 0.01-5.65
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 Fri, 02/01/2026 5 Wed, 07/01/2026 25,795.00 5.26
(b) Reverse Repo Operation
3. MSF# Fri, 02/01/2026 1 Sat, 03/01/2026 1,191.00 5.50
Fri, 02/01/2026 2 Sun, 04/01/2026 0.00 5.50
Fri, 02/01/2026 3 Mon, 05/01/2026 525.00 5.50
4. SDFΔ# Fri, 02/01/2026 1 Sat, 03/01/2026 98,231.00 5.00
Fri, 02/01/2026 2 Sun, 04/01/2026 0.00 5.00
Fri, 02/01/2026 3 Mon, 05/01/2026 1,410.00 5.00
5. Net liquidity injected from today's
-72,130.00
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$ 10,682.70
E. Net liquidity injected from outstanding operations [injection
10,682.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-61,447.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 02, 2026 7,81,402.30
(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 02, 2026 25,795.00
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: 2025-2026/1841 Deputy General Manager
(Communications)