**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 08, 2026, reports on money market operations and the cash reserve position of scheduled commercial banks as of January 07, 2026. It provides details on overnight and term segments, as well as RBI operations, including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also details balances as of January 15, 2026, and December 12, 2025, relating to government surplus cash balances and net durable liquidity.
**Key Points / Main Content**
* **Money Market Operations (as of January 07, 2026):**
* **Overnight Segment (I+II+III+IV):** Volume: ₹6,63,180.86 Crore, Weighted Average Rate: 5.22%, Range: 2.50-6.40%
* **Term Segment:** Volume: ₹6,607.07 Crore, Weighted Average Rate: 5.33%, Range: 4.85-5.81%
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* **Repo Operation (Variable Rate):** Auction Date: January 07, 2026 (Wed), Tenor: 2 days, Maturity Date: January 09, 2026 (Fri), Amount: ₹19,156.00 Crore, Rate: 5.26%
* **MSF:** Auction Date: January 07, 2026 (Wed), Tenor: 1 day, Maturity Date: January 08, 2026 (Thu), Amount: ₹3,771.00 Crore, Rate: 5.50%
* **SDFA:** Auction Date: January 07, 2026 (Wed), Tenor: 1 day, Maturity Date: January 08, 2026 (Thu), Amount: ₹71,870.00 Crore, Rate: 5.00%
* **Net liquidity injected from today's operations**: -₹48,943.00 Crore
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹13,558.66 Crore
* **Net liquidity injected from outstanding operations:** ₹13,558.66 Crore
* **Net liquidity injected (outstanding including today's operations):** -₹35,384.34 Crore
* **Reserve Position of Scheduled Commercial Banks:**
* **Cash balances with RBI as on January 07, 2026:** ₹7,18,474.18 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 07, 2026:** ₹19,156.00 Crore
* **Net durable liquidity as on December 12, 2025:** ₹3,25,160.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by changes in liquidity conditions, interest rates, and reserve requirements. This influences their lending and investment activities.
* **Action Required:** Need to monitor and adjust their cash reserves and liquidity management strategies based on the reported figures.
**RBI**
* **Impact:** In charge of controlling the money supply and influencing interest rates, influencing economic and monetary policy.
* **Action Required:** Must continue to monitor market conditions and adjust its operations (LAF, MSF, SDF) as needed to maintain financial stability.
**Government**
* **Impact:** Government may experience changes to government's surplus cash balances available for auction.
* **Action Required:** Must consider the liquidity situation when planning its borrowing program.
Key Entities Referenced
Reserve Bank of India: Central bank of India; primary regulator for money market operations
Liquidity Adjustment Facility (LAF): Monetary policy instrument used by RBI to manage liquidity
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI
Standing Deposit Facility (SDF): A monetary policy tool that allows banks to deposit surplus liquidity with the RBI
Money Markets: Overall context of the document; short-term debt market
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 08, 2026
Money Market Operations as on January 07, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,63,180.86 5.22 2.50-6.40
I. Call Money 18,861.41 5.30 4.50-5.48
II. Triparty Repo 4,45,876.75 5.19 5.10-5.75
III. Market Repo 1,95,305.15 5.29 2.50-5.70
IV. Repo in Corporate Bond 3,137.55 5.38 5.35-6.40
B. Term Segment
I. Notice Money** 101.00 5.27 4.85-5.35
II. Term Money@@ 974.00 - 5.50-5.81
III. Triparty Repo 4,563.50 5.37 5.20-5.50
IV. Market Repo 968.57 5.35 5.35-5.40
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 Wed, 07/01/2026 2 Fri, 09/01/2026 19,156.00 5.26
(b) Reverse Repo Operation
3. MSF# Wed, 07/01/2026 1 Thu, 08/01/2026 3,771.00 5.50
4. SDFΔ# Wed, 07/01/2026 1 Thu, 08/01/2026 71,870.00 5.00
5. Net liquidity injected from today's
-48,943.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,558.66
E. Net liquidity injected from outstanding operations [injection
13,558.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-35,384.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 07, 2026 7,18,474.18
(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 07, 2026 19,156.00
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: 2025-2026/1879 Deputy General Manager
(Communications)