Money Market Operations as on January 08, 2026

**Executive Summary** This press release from the Reserve Bank of India (RBI), dated January 09, 2026, reports on the money market operations as of January 08, 2026. It details volumes, weighted average rates, and ranges for various money market segments, including overnight and term segments, as well as RBI operations such as the Liquidity Adjustment Facility (LAF) and Standing Deposit Facility (SDF). Cash reserve positions of scheduled commercial banks are also reported for January 08, 2026, and January 15, 2026. **Key Points / Main Content** * **Money Markets (January 08, 2026):** * **Overnight Segment:** Total volume (One Leg) is ₹6,71,476.09 crore, with a weighted average rate of 5.35% and a range of 3.00-6.40%. * Call Money: Volume ₹22,210.69 crore, average rate 5.40%, range 4.50-5.53%. * Triparty Repo: Volume ₹4,52,368.30 crore, average rate 5.33%, range 5.24-5.55%. * Market Repo: Volume ₹1,93,581.80 crore, average rate 5.40%, range 3.00-6.00%. * Repo in Corporate Bond: Volume ₹3,315.30 crore, average rate 5.53%, range 5.42-6.40%. * **Term Segment:** * Notice Money: Volume ₹923.50 crore, average rate 5.59%, range 4.90-5.80%. * Term Money: Volume ₹586.00 crore, range 5.55-6.05%. * Triparty Repo: Volume ₹2,301.00 crore, average rate 5.37%, range 5.35-5.50%. * Market Repo: Volume ₹2,329.18 crore, average rate 5.40%, range 5.35-5.50%. * Repo in Corporate Bond: Volume ₹0.00 crore. * **RBI Operations:** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations (January 08, 2026):** * Repo Operation (Variable Rate): ₹70,968.00 crore, tenor of 1 day, maturing on January 09, 2026, rate 5.26%. * MSF: ₹334.00 crore, tenor of 1 day, maturing on January 09, 2026, rate 5.50%. * SDFA: ₹84,707.00 crore, tenor of 1 day, maturing on January 09, 2026, rate 5.00%. * Net liquidity injected from today's operations is -₹13,405.00 crore. * **Outstanding Operations:** * Repo Operation (Variable Rate): ₹19,156.00 crore, tenor of 2 days, maturing on January 09, 2026, rate 5.26%. * **Other Liquidity Facilities:** * Standing Liquidity Facility (SLF) Availed from RBI: ₹13,558.66 crore. * Net liquidity injected from outstanding operations: ₹32,714.66 crore. * Net liquidity injected (outstanding including today's operations): ₹19,309.66 crore. * **Reserve Position of Scheduled Commercial Banks:** * Cash balances with RBI as on January 08, 2026: ₹7,27,268.10 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 08, 2026: ₹70,968.00 crore. * Net durable liquidity as on December 12, 2025: ₹3,25,160.00 crore. **Impact Analysis** **Scheduled Commercial Banks** * **Impact:** Banks are directly affected by the liquidity conditions reported, which influence their borrowing and lending activities. The reserve positions impact their liquidity management and compliance with RBI requirements. * **Action Required:** Banks should review their liquidity positions and strategies in light of the reported money market conditions and adjust their operations accordingly. They should ensure compliance with the cash reserve requirements. **Money Market Participants** * **Impact:** All participants in the money markets, including financial institutions and corporations, are affected by the reported rates and volumes, which influence their investment and funding decisions. * **Action Required:** Participants should analyze the trends in money market rates and volumes to optimize their borrowing and lending strategies. **Reserve Bank of India (RBI)** * **Impact:** The data provides insights into the effectiveness of RBI's monetary policy operations and liquidity management. * **Action Required:** RBI should monitor the money market conditions and adjust its operations as needed to maintain financial stability and achieve its monetary policy objectives.

Key Entities Referenced