**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) providing details of money market operations as of January 5, 2026. It covers overnight and term segment transactions, RBI operations including liquidity adjustment facilities, and the cash reserve position of scheduled commercial banks. The press release number is 2025-2026/1860.
**Key Points / Main Content**
* **Money Markets (as of January 5, 2026):**
* **Overnight Segment:**
* Total volume: ₹6,70,938.38 Crore, Weighted average rate: 5.21%, Range: 1.99-6.40%.
* Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:**
* Includes Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* Notice Money volume: ₹145.80 Crore, Weighted average rate: 5.34%, Range: 4.85-5.50%.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations (January 5, 2026):**
* Repo Operation: ₹14,625.00 Crore at 5.26% on January 5, 2026, maturing on January 6, 2026.
* Reverse Repo Operation: ₹946.00 Crore at 5.50% on January 5, 2026, maturing on January 6, 2026.
* SDF: ₹1,16,861.00 Crore at 5.00% on January 5, 2026, maturing on January 6, 2026.
* Net liquidity injected from today's operations: -₹1,01,290.00 Crore.
* **Outstanding Operations:**
* Repo Operation: ₹25,795.00 Crore at 5.26% on January 2, 2026, maturing on January 7, 2026.
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹10,682.70 Crore.
* **Net liquidity injected from outstanding operations:** ₹36,477.70 Crore.
* **Net liquidity injected (outstanding including today's operations):** -₹64,812.30 Crore.
* **Reserve Position:**
* **Cash Reserves Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 5, 2026: ₹7,45,547.28 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 5, 2026:** ₹14,625.00 Crore.
* **Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025:** ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks need to be aware of the liquidity conditions, interest rates, and available facilities (LAF, MSF, SDF, SLF). The cash reserve requirements impact their operational liquidity.
* **Action Required:** Banks must manage their liquidity positions in accordance with the reported figures and RBI guidelines to meet their reserve requirements and optimize borrowing/lending strategies.
**Government of India**
* **Impact:** The surplus cash balance with RBI impacts government finances and borrowing requirements.
* **Action Required:** The Government needs to take this information into account when deciding on when to issue bonds and how much to issue.
**Financial Markets Participants**
* **Impact:** The data on money market operations influences trading and investment decisions in various segments.
* **Action Required:** Market participants should analyze the trends in volumes and rates to adjust their trading strategies and manage risk.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India; publishes this press release on money market operations.
Liquidity Adjustment Facility (LAF): Monetary policy tool used by RBI to manage liquidity.
Marginal Standing Facility (MSF): Facility under which scheduled commercial banks can borrow overnight funds from the RBI.
Standing Deposit Facility (SDF): Monetary policy tool used by RBI to absorb liquidity.
Money Market: Market for short-term debt instruments.
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 06, 2026
Money Market Operations as on January 05, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,70,938.38 5.21 1.99-6.40
I. Call Money 18,787.42 5.40 4.50-5.50
II. Triparty Repo 4,51,651.35 5.15 4.50-5.26
III. Market Repo 1,97,591.86 5.32 1.99-5.65
IV. Repo in Corporate Bond 2,907.75 5.48 5.45-6.40
B. Term Segment
I. Notice Money** 145.80 5.34 4.85-5.50
II. Term Money@@ 826.00 - 5.45-5.80
III. Triparty Repo 3,820.00 5.30 5.00-5.40
IV. Market Repo 1,264.44 5.40 5.35-5.60
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 Mon, 05/01/2026 1 Tue, 06/01/2026 14,625.00 5.26
(b) Reverse Repo Operation
3. MSF# Mon, 05/01/2026 1 Tue, 06/01/2026 946.00 5.50
4. SDFΔ# Mon, 05/01/2026 1 Tue, 06/01/2026 1,16,861.00 5.00
5. Net liquidity injected from today's
-1,01,290.00
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#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,682.70
E. Net liquidity injected from outstanding operations [injection
36,477.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-64,812.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 05, 2026 7,45,547.28
(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 05, 2026 14,625.00
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: 2025-2026/1860 Deputy General Manager
(Communications)