**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 12, 2026, provides details of money market operations as of January 10, 2026. It covers overnight and term segments, RBI operations including LAF, MSF and SDF, standing liquidity facilities, and cash reserve positions of scheduled commercial banks. The release references several previous press releases and notifications.
**Key Points / Main Content**
* **Money Market Operations:**
* **Overnight Segment:** Total volume is 0.00.
* **Term Segment:** Total volume is 0.00.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations (Sat, 10/01/2026):**
* Repo Operation (Variable Rate, 1-day tenor): ₹78.00 Crore at 5.50%
* MSF: ₹0.00 Crore at 5.50%
* SDFA (Variable Rate, 1-day tenor): ₹1,38,695.00 Crore at 5.00%
* SDFA (Variable Rate, 2-day tenor): ₹800.00 Crore at 5.00%
* Net liquidity injected from today's operations: ₹-1,39,417.00 Crore (absorption)
* **Outstanding Operations:**
* Repo Operation (Variable Rate, 4-day tenor): ₹50,011.00 Crore at 5.27%
* Reverse Repo Operation (Variable Rate, 4-day tenor): ₹77,199.00 Crore at 5.26%
* MSF (2-day tenor): ₹0.00 Crore at 5.50%
* MSF (3-day tenor): ₹273.00 Crore at 5.50%
* SDFA (2-day tenor): ₹90.00 Crore at 5.00%
* SDFA (3-day tenor): ₹29,006.00 Crore at 5.00%
* **Standing Liquidity Facility (SLF):** ₹13,558.66 Crore availed from RBI.
* **Net Liquidity:**
* Net liquidity injected from outstanding operations: ₹1,11,945.66 Crore (injection)
* Net liquidity injected (outstanding including today's operations): ₹-27,471.34 Crore (absorption)
* **Reserve Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 10, 2026: ₹7,32,886.24 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 09, 2026: ₹1,27,210.00 Crore.
* Net durable liquidity as on December 12, 2025: ₹3,25,160.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks:**
* **Impact:** Directly impacted by the cash reserve requirements and liquidity facilities outlined in the release.
* **Action Required:** Banks must maintain required cash reserves with RBI and manage their liquidity positions based on the details provided.
**Money Market Participants:**
* **Impact:** Affected by the rates and volumes of various money market operations conducted by the RBI.
* **Action Required:** Need to adjust their strategies based on the information provided on the rates and liquidity conditions.
Key Entities Referenced
Reserve Bank of India: Central bank of India, responsible for monetary policy and regulation of the banking system.
Liquidity Adjustment Facility (LAF): A monetary policy instrument used by the Reserve Bank of India to manage liquidity in the banking system through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the Reserve Bank of India against their government securities holdings.
Standing Deposit Facility (SDF): A monetary policy tool that allows the Reserve Bank of India to absorb excess liquidity from the banking system without requiring collateral.
Money Market: The market for short-term debt instruments, including call money, triparty repo, and commercial paper. Where liquidity for banks are being managed.
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 12, 2026
Money Market Operations as on January 10, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
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
(b) Reverse Repo Operation
3. MSF# Sat, 10/01/2026 1 Sun, 11/01/2026 78.00 5.50
Sat, 10/01/2026 2 Mon, 12/01/2026 0.00 5.50
4. SDFΔ# Sat, 10/01/2026 1 Sun, 11/01/2026 1,38,695.00 5.00
Sat, 10/01/2026 2 Mon, 12/01/2026 800.00 5.00
5. Net liquidity injected from today's
-1,39,417.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Fri, 09/01/2026 4 Tue, 13/01/2026 50,011.00 5.27
Fri, 09/01/2026 4 Tue, 13/01/2026 77,199.00 5.26
(b) Reverse Repo Operation
3. MSF# Fri, 09/01/2026 2 Sun, 11/01/2026 0.00 5.50
Fri, 09/01/2026 3 Mon, 12/01/2026 273.00 5.50
4. SDFΔ# Fri, 09/01/2026 2 Sun, 11/01/2026 90.00 5.00
Fri, 09/01/2026 3 Mon, 12/01/2026 29,006.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,558.66
E. Net liquidity injected from outstanding operations [injection
1,11,945.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-27,471.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 10, 2026 7,32,886.24
(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 09, 2026 1,27,210.00
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: 2025-2026/1898 Deputy General Manager
(Communications)