**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 05, 2026, reports on money market operations as of January 04, 2026. It details liquidity adjustment facility (LAF), marginal standing facility (MSF), standing deposit facility (SDF), and cash reserve positions. The next average daily cash reserve requirement for the fortnight ends January 15, 2026.
**Key Points / Main Content**
* **Money Market Operations (as of January 04, 2026):**
* **Overnight Segment:**
* Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond all had a volume of 0.00.
* **Term Segment:**
* Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond all had a volume of 0.00.
* **RBI Operations:**
* **Today's Operations (January 04, 2026):**
* MSF: ₹166.00 Crore at 5.50% with a 1-day tenor maturing on January 05, 2026.
* SDF: ₹82,309.00 Crore at 5.00% with a 1-day tenor maturing on January 05, 2026.
* **Outstanding Operations:**
* Reverse Repo Operation: ₹25,795.00 Crore at 5.26% with a 5-day tenor maturing on January 07, 2026, from January 02, 2026.
* MSF: ₹384.00 Crore at 5.50% with a 2-day tenor maturing on January 05, 2026, from January 03, 2026 and ₹525.00 Crore at 5.50% with a 3-day tenor maturing on January 05, 2026, from January 02, 2026.
* SDF: ₹3,536.00 Crore at 5.00% with a 2-day tenor maturing on January 05, 2026, from January 03, 2026 and ₹1,410.00 Crore at 5.00% with a 3-day tenor maturing on January 05, 2026, from January 02, 2026.
* **Liquidity Positions (in ₹ Crore):**
* Net Liquidity Injected from Today's Operations: -82,143.00
* Standing Liquidity Facility (SLF) Availed from RBI: 10,682.70
* Net Liquidity Injected from Outstanding Operations: 32,440.70
* Net Liquidity Injected (Outstanding Including Today's Operations): -49,702.30
* **Reserve Positions (as of January 04, 2026):**
* Cash Reserves Position of Scheduled Commercial Banks: ₹7,92,260.81 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**
* Need to maintain the required cash reserve ratio with the RBI. Daily cash reserve to be maintained for the fortnight ending January 15, 2026.
* **Action Required**
* Ensure compliance with the stipulated cash reserve requirements.
**RBI**
* **Impact**
* Manages liquidity in the money market through various instruments like LAF, MSF, and SDF.
* **Action Required**
* Monitor and adjust operations to maintain stability in the money market.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, regulator of money markets and banking system
Liquidity Adjustment Facility (LAF): Tool used by RBI to manage liquidity through repo and reverse repo operations
Marginal Standing Facility (MSF): 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 without any collateral
Money Market Operations: Activities undertaken in the money market, including repo, reverse repo, call money etc.
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 04, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
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# Sun, 04/01/2026 1 Mon, 05/01/2026 166.00 5.50
4. SDFΔ# Sun, 04/01/2026 1 Mon, 05/01/2026 82,309.00 5.00
5. Net liquidity injected from today's
-82,143.00
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# Sat, 03/01/2026 2 Mon, 05/01/2026 384.00 5.50
Fri, 02/01/2026 3 Mon, 05/01/2026 525.00 5.50
4. SDFΔ# Sat, 03/01/2026 2 Mon, 05/01/2026 3,536.00 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
32,440.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-49,702.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 04, 2026 7,92,260.81
(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: 2025-2026/1844 Deputy General Manager
(Communications)