**Executive Summary**
This press release from the Reserve Bank of India, dated January 05, 2026, details money market operations as of January 04, 2026, including liquidity adjustment facilities, standing facilities, and reserve positions of scheduled commercial banks. It covers operations undertaken on January 4, 2026, and outstanding operations. The document also references past press releases and notifications relevant to these operations.
**Key Points / Main Content**
* **Money Market Operations (Jan 04, 2026):**
* Overnight, and Term segments showed zero volume in Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Jan 04, 2026):**
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF) operations were conducted.
* MSF operations on Jan 04, 2026, had a tenor of 1 day, maturing on Jan 05, 2026, for an amount of ₹166.00 Crore at 5.50% rate.
* SDFA operations on Jan 04, 2026, had a tenor of 1 day, maturing on Jan 05, 2026, for an amount of ₹82,309.00 Crore at 5.00% rate.
* Net liquidity injected from Jan 04, 2026 operations resulted in absorption of ₹-82,143.00 Crore.
* **Outstanding Operations:**
* Reverse Repo Operations on Fri, Jan 02, 2026, had a tenor of 5 days, maturing on Wed, Jan 07, 2026, for an amount of ₹25,795.00 Crore at 5.26% rate.
* MSF operations on Sat, Jan 03, 2026 and Fri, Jan 02, 2026 had a tenor of 2 and 3 days respectively, maturing on Mon, Jan 05, 2026 for ₹384.00 and ₹525.00 Crore respectively, both at a rate of 5.50%.
* SDFA operations on Sat, Jan 03, 2026 and Fri, Jan 02, 2026, had a tenor of 2 and 3 days respectively, maturing on Mon, Jan 05, 2026 for ₹3,536.00 and ₹1,410.00 Crore respectively, both at a rate of 5.00%.
* Net liquidity injected from outstanding operations is ₹32,440.70 Crore.
* **Standing Liquidity Facility (SLF):**
* ₹10,682.70 Crore availed from RBI.
* **Net Liquidity Injection:**
* Net liquidity injected (outstanding including today's operations) resulted in absorption of ₹-49,702.30 Crore.
* **Reserve Position:**
* Cash balances with RBI as on January 04, 2026: ₹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:** Banks are directly impacted by the LAF, MSF, and SDF operations, as these mechanisms influence their liquidity management and borrowing costs. The reserve positions affect their compliance requirements and the amount of funds available for lending.
* **Action Required:** Banks need to adjust their liquidity positions based on the outcomes of these operations and ensure compliance with reserve requirements.
**Reserve Bank of India (RBI)**
* **Impact:** The RBI uses these operations to manage liquidity in the money market and maintain financial stability. The outcomes inform their monetary policy decisions.
* **Action Required:** The RBI needs to monitor the impact of these operations on the overall financial system and adjust its policies as necessary.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India responsible for monetary policy and liquidity management.
Liquidity Adjustment Facility (LAF): 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 against government securities.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the banking system without the need for collateral.
Standing Liquidity Facility (SLF): A liquidity facility provided by the RBI.
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)