**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, rates, and ranges for various overnight and term segments, along with RBI operations like the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). There are references to previous press releases.
**Key Points / Main Content**
* **Money Market Operations (as of January 08, 2026):**
* **Overnight Segment:** Total volume of ₹6,71,476.09 Crore with a weighted average rate of 5.35% (range: 3.00-6.40%). Includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Volumes and weighted average rates are 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) - Today's Operations:**
* Repo Operation (Variable Rate): ₹70,968.00 Crore
* MSF: ₹334.00 Crore at 5.50%
* SDFA: ₹84,707.00 Crore at 5.00%
* Net liquidity injected from today's operations: -₹13,405.00 Crore (absorption).
* **Outstanding Operations:**
* Repo Operation (Variable Rate): ₹19,156.00 Crore
* Standing Liquidity Facility (SLF) Availed from RBI: ₹13,558.66 Crore
* Net liquidity injected from outstanding operations: ₹32,714.66 Crore (injection).
* Net liquidity injected (outstanding including today's operations): ₹19,309.66 Crore (injection).
* **Reserve Position (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 [surplus (+)/deficit (-)] as on December 12, 2025: ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by the cash reserve requirements and the liquidity available through various RBI facilities. The data informs their liquidity management strategies.
* **Action Required:** Monitor RBI operations and adjust their cash reserve positions and borrowing/lending activities accordingly.
**Money Market Participants (e.g., Corporates, Financial Institutions)**
* **Impact:** Influenced by the rates and volumes in the money market, affecting their short-term borrowing and lending decisions.
* **Action Required:** Analyze the trends in rates and volumes to make informed decisions about their money market activities.
**RBI**
* **Impact:** The data reflects the effectiveness of the RBI's monetary policy operations in managing liquidity in the money market.
* **Action Required:** Use the data to assess the impact of its operations and make necessary adjustments to achieve its monetary policy objectives.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the money supply and the banking system. The primary issuer of this press release.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight from the RBI at a penal rate.
Standing Deposit Facility (SDF): A facility to absorb liquidity from the banks without any collateral.
Money Markets: Financial markets where short-term debt instruments are traded. The press release provides data on money market operations.
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)