**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 12, 2026, details money market operations as of January 10, 2026. It covers overnight and term segments, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF), and the reserve position of scheduled commercial banks. The average daily cash reserve requirement for the fortnight ending is January 15, 2026.
**Key Points / Main Content**
* **Money Market Operations (January 10, 2026)**
* **Overnight Segment:** Volume is 0.00 for call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Volume is 0.00 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:**
* **Variable Rate:**
* Repo operation: 78.00 on Jan 11, 2026.
* Reverse Repo operation: 0.00 on Jan 12, 2026.
* MSF: 1,38,695.00 on Jan 11, 2026, and 800.00 on Jan 12, 2026.
* Net liquidity injected from today's operations: -1,39,417.00.
* **Outstanding Operations:**
* **Variable Rate:**
* Repo operation: 50,011.00 on Tue, Jan 13, 2026
* Reverse Repo operation: 77,199.00 on Tue, Jan 13, 2026
* MSF: 0.00 on Sun, Jan 11, 2026, and 273.00 on Mon, Jan 12, 2026.
* SDF: 90.00 on Sun, Jan 11, 2026, and 29,006.00 on Mon, Jan 12, 2026.
* Standing Liquidity Facility (SLF) Availed from RBI: 13,558.66
* Net liquidity injected from outstanding operations: 1,11,945.66.
* Net liquidity injected (outstanding including today's operations): -27,471.34.
* **Reserve Position of Scheduled Commercial Banks**
* Cash balances with RBI as on January 10, 2026: 7,32,886.24
* Average daily cash reserve requirement for the fortnight ending January 15, 2026: 7,48,477.00
* Government of India Surplus Cash Balance Reckoned for Auction as on January 09, 2026: 1,27,210.00
* Net durable liquidity as on December 12, 2025: 3,25,160.00
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by changes in cash reserve requirements and the availability of liquidity through various RBI facilities (LAF, MSF, SDF, SLF).
* **Action Required:** Monitor and adjust their cash reserves and liquidity management strategies to comply with RBI regulations and to optimize their funding costs.
**Government of India**
* **Impact:** Surplus cash balances are considered for auction purposes, influencing government finances.
* **Action Required:** Monitor liquidity conditions and coordinate with RBI on cash management strategies.
**Financial Markets**
* **Impact:** Influenced by the liquidity injected or absorbed through RBI's operations, impacting interest rates and overall financial stability.
* **Action Required:** Market participants need to analyze the RBI's operations to anticipate interest rate movements and adjust their investment strategies.
Key Entities Referenced
Reserve Bank of India: The central bank of India, overseeing money market operations and reserve positions.
Liquidity Adjustment Facility (LAF): A monetary policy tool used by the RBI for managing liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the commercial banks without the need for collateral.
Money Market Operations: Activities conducted by the RBI in the money market to influence liquidity and interest rates.
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)