**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 09, 2026, reports on money market operations as of January 08, 2026. It details volumes, weighted average rates, and ranges for overnight and term segments, as well as RBI operations including the Liquidity Adjustment Facility (LAF) and Standing Deposit Facility (SDF). The document also includes cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (January 08, 2026):**
* **Overnight Segment:** Total volume: ₹6,71,476.09 Crore, Weighted average rate: 5.35%, Range: 3.00-6.40%. Includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Volume and weighted average rates provided for notice money, term money, triparty repo, market repo, and repo in corporate bonds.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Describes today's and outstanding operations related to fixed and variable rate repos, MSF, and SDFA.
* **Today's Operations (January 08, 2026):**
* Variable Rate Repo Operation: ₹70,968.00 Crore at 5.26%
* MSF: ₹334.00 Crore at 5.50%
* SDFA: ₹84,707.00 Crore at 5.00%
* **Outstanding Operations:**
* Variable Rate Repo Operation (January 07, 2026): ₹19,156.00 Crore at 5.26%
* **Standing Liquidity Facility (SLF):** Availed from RBI: ₹13,558.66 Crore.
* **Net Liquidity Injected:** Details of net liquidity injected from outstanding and today's operations.
* **Reserve Position of Scheduled Commercial Banks:**
* **Cash Balances with RBI (January 08, 2026):** ₹7,27,268.10 Crore.
* **Average Daily Cash Reserve Requirement (Fortnight Ending January 15, 2026):** ₹7,48,477.00 Crore.
* **Government of India Surplus Cash Balance (January 08, 2026):** ₹70,968.00 Crore.
* **Net Durable Liquidity (December 12, 2025):** ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Must maintain the required cash reserve ratio (CRR) with the RBI.
* **Action Required:** Monitor their cash balances with RBI to meet the average daily cash reserve requirement.
**RBI**
* **Impact:** Management of liquidity in the money market.
* **Action Required:** Conduct LAF, MSF, and SDF operations to manage liquidity and maintain stability in the money market.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, regulating monetary policy and acting as banker to the government and commercial banks.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the 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 used by the RBI to absorb liquidity from the banking system without any collateral.
Mumbai: Location of the Department of Communication, Central Office of the Reserve Bank of India.
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 09, 2026
Money Market Operations as on January 08, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,71,476.09 5.35 3.00-6.40
I. Call Money 22,210.69 5.40 4.50-5.53
II. Triparty Repo 4,52,368.30 5.33 5.24-5.55
III. Market Repo 1,93,581.80 5.40 3.00-6.00
IV. Repo in Corporate Bond 3,315.30 5.53 5.42-6.40
B. Term Segment
I. Notice Money** 923.50 5.59 4.90-5.80
II. Term Money@@ 586.00 - 5.55-6.05
III. Triparty Repo 2,301.00 5.37 5.35-5.50
IV. Market Repo 2,329.18 5.40 5.35-5.50
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 Thu, 08/01/2026 1 Fri, 09/01/2026 70,968.00 5.26
(b) Reverse Repo Operation
3. MSF# Thu, 08/01/2026 1 Fri, 09/01/2026 334.00 5.50
4. SDFΔ# Thu, 08/01/2026 1 Fri, 09/01/2026 84,707.00 5.00
5. Net liquidity injected from today's
-13,405.00
operations [injection (+)/absorption (-)]*
II Outstanding 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#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,558.66
E. Net liquidity injected from outstanding operations [injection
32,714.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
19,309.66
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 08, 2026 7,27,268.10
(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 08, 2026 70,968.00
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: 2025-2026/1886 Deputy General Manager
(Communications)