**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 5, 2026, provides details of money market operations as of January 3, 2026. It covers overnight and term segments, RBI operations including LAF, MSF and SDF, and the cash reserve position of scheduled commercial banks. The release references several other press releases and notifications, indicating ongoing policy updates and related information.
**Key Points / Main Content**
* **Money Market Operations (as of January 3, 2026):**
* **Overnight Segment:** Volume of ₹19,472.03 Crore with a weighted average rate of 5.18% (range: 3.50-5.40%).
* **Term Segment:** Volume of ₹39.00 Crore with a weighted average rate of 4.75% (range: 4.75-4.75%).
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* Fixed and variable rate operations were conducted.
* Details provided for Repo Operation, Reverse Repo Operation, MSF and SDF including auction date, tenor, maturity date, amount, and current rate/cut-off rate.
* **Standing Liquidity Facility (SLF):** ₹10,682.70 Crore availed from RBI.
* **Net Liquidity:**
* Injected from today's operations (absorption): -₹86,931.00 Crore.
* Injected from outstanding operations (absorption): ₹35,592.70 Crore.
* Total injection (absorption): -₹51,338.30 Crore.
* **Reserve Position (as of stated dates):**
* Cash balances with RBI: ₹7,90,590.05 Crore (as on January 3, 2026).
* Average daily cash reserve requirement for the fortnight ending: ₹7,48,477.00 Crore (as on January 15, 2026).
* Government of India Surplus Cash Balance: ₹25,795.00 Crore (as on January 2, 2026).
* Net durable liquidity: ₹3,25,160.00 Crore (as on December 12, 2025).
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Impacted by the details of the RBI's money market operations which affect liquidity and interest rates.
* **Action Required:** To consider and adapt to liquidity conditions reflected in the money market data and manage their cash reserves accordingly.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the money market and conducting monetary policy, which is issuing this press release on money market operations.
Liquidity Adjustment Facility (LAF): A monetary policy tool used by the RBI to inject or absorb liquidity in the banking system 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 government securities.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
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)