**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 05, 2026, provides information on money market operations as of January 03, 2026. It details volumes, weighted average rates, and ranges for overnight and term segments. It also outlines RBI operations, including liquidity adjustment facilities, standing facilities, and cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets Operations (as of January 03, 2026):**
* **Overnight Segment:** Volume of ₹19,472.03 Crore, weighted average rate of 5.18%, range of 3.50-5.40%. This includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Volume of ₹39.00 Crore, weighted average rate of 4.75%, range of 4.75-4.75%. This includes notice money, term money, triparty repo, market repo and repo in corporate bonds.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:** Details on fixed and variable rate repo/reverse repo operations, MSF and SDF. Net liquidity injected from today's operations: -₹86,931.00 Crore.
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Outstanding Operations:** Details on fixed and variable rate repo/reverse repo operations, MSF and SDF.
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹10,682.70 Crore.
* **Net Liquidity injected (outstanding including today's operations):** -₹51,338.30 Crore.
* **Reserve Position:**
* **Cash Reserves Position of Scheduled Commercial Banks (as of January 03, 2026):** Cash balances with RBI: ₹7,90,590.05 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 02, 2026:** ₹25,795.00 Crore
* **Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025:** ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** The cash reserve position and average daily cash reserve requirements directly impact scheduled commercial banks' liquidity and regulatory compliance.
* **Action Required:** Banks must maintain the required cash reserve ratios and manage their liquidity accordingly.
**Money Market Participants**
* **Impact:** Money market participants are impacted by the RBI’s repo/reverse repo operations, MSF, and SDF rates, which influence short-term interest rates and liquidity conditions.
* **Action Required:** They must monitor RBI's operations and adjust their trading strategies accordingly.
Key Entities Referenced
Reserve Bank of India: Central bank responsible for monetary policy, regulation and supervision of the financial system in India; primary subject of document.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the banking system through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow funds overnight from the RBI against their SLR portfolio.
Standing Deposit Facility (SDF): A tool to absorb liquidity from the banks without any collateral
Repo Operation: A short-term agreement to sell securities in order to buy them back at a slightly higher price, used by the RBI to inject liquidity.
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 03, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 19,472.03 5.18 3.50-5.40
I. Call Money 1,065.60 4.75 4.50-4.85
II. Triparty Repo 18,260.20 5.22 4.79-5.40
III. Market Repo 146.23 3.89 3.50-5.00
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 39.00 4.75 4.75-4.75
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
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
(b) Reverse Repo Operation
3. MSF# Sat, 03/01/2026 1 Sun, 04/01/2026 156.00 5.50
Sat, 03/01/2026 2 Mon, 05/01/2026 384.00 5.50
4. SDFΔ# Sat, 03/01/2026 1 Sun, 04/01/2026 83,935.00 5.00
Sat, 03/01/2026 2 Mon, 05/01/2026 3,536.00 5.00
5. Net liquidity injected from today's
-86,931.00
operations [injection (+)/absorption (-)]*
II Outstanding 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 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 2 Sun, 04/01/2026 0.00 5.00
Fri, 02/01/2026 3 Mon, 05/01/2026 1,410.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,682.70
E. Net liquidity injected from outstanding operations [injection
35,592.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-51,338.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 03, 2026 7,90,590.05
(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: 2025-2026/1843 Deputy General Manager
(Communications)