**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated January 06, 2026, providing details on money market operations as of January 05, 2026. It includes data on overnight and term segments, RBI operations such as the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The document also presents data on the Cash Reserve Positions of Scheduled Commercial Banks.
**Key Points / Main Content**
* **Money Market Operations (January 05, 2026):**
* **Overnight Segment:**
* Total volume: ₹6,70,938.38 Crore.
* Weighted average rate: 5.21%.
* Range: 1.99-6.40%.
* **Term Segment:**
* Notice Money volume: ₹145.80 Crore with an average rate of 5.34% and range 4.85-5.50%.
* Term Money volume: ₹826.00 Crore with a rate range of 5.45-5.80%.
* Triparty Repo volume: ₹3,820.00 Crore with an average rate of 5.30% and range 5.00-5.40%.
* Market Repo volume: ₹1,264.44 Crore with an average rate of 5.40% and range 5.35-5.60%.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* Fixed Rate remains unchanged.
* Repo Operation: ₹14,625.00 Crore with rate of 5.25% (Mon, 05/01/2026, Tue, 06/01/2026).
* Reverse Repo Operation: ₹946.00 Crore with rate of 5.50% (Mon, 05/01/2026, Tue, 06/01/2026).
* MSF: ₹1,16,861.00 Crore with rate of 5.00% (Mon, 05/01/2026, Tue, 06/01/2026).
* **Outstanding Operations:**
* Repo Operation: ₹25,795.00 Crore with rate of 5.25% (Fri, 02/01/2026, Wed, 07/01/2026).
* **Other Facilities:**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹10,682.70 Crore.
* **Net Liquidity (Injected/Absorption):**
* Net liquidity injected from today's operations: -₹1,01,290.00 Crore (absorption).
* Net liquidity injected from outstanding operations: ₹36,477.70 Crore (injection).
* Net liquidity injected (outstanding including today's operations): -₹64,812.30 Crore (absorption).
* **Reserve Position of Scheduled Commercial Banks (January 05, 2026):**
* Cash balances with RBI: ₹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 05, 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:** Their liquidity and reserve requirements are affected by the LAF, MSF, SDF operations and the cash reserve requirements set by the RBI.
* **Action Required:** Manage their cash reserves to meet the RBI's requirements and utilize facilities like LAF, MSF, and SDF to manage their liquidity positions.
**Money Market Participants:**
* **Impact:** The rates and volumes in the overnight and term money markets directly affect their borrowing and lending costs and opportunities.
* **Action Required:** Monitor market trends and adjust their strategies accordingly.
**Government of India:**
* **Impact:** The government's surplus cash balance affects liquidity conditions in the market.
* **Action Required:** Understand the impact of their cash position on overall market liquidity.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India; primary regulator for money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the 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.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system.
Money Market: The 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)