**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated January 12, 2026, providing details of money market operations and RBI operations as of January 11, 2026. It outlines volumes, weighted average rates, and ranges for various money market segments, as well as amounts for Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also includes information on cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets (as of January 11, 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:**
* Repo Operation: ₹72.00 Crore at 5.50% (Sun, 11/01/2026; 1 day tenor, Mon, 12/01/2026 maturity).
* SDFA: ₹1,41,180.00 Crore at 5.00% (Sun, 11/01/2026; 1 day tenor, Mon, 12/01/2026 maturity).
* Net liquidity injected from today's operations [injection (+)/absorption (-)]: -₹1,41,108.00 Crore.
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Outstanding Operations:**
* Repo Operation: ₹50,011.00 Crore at 5.27% (Fri, 09/01/2026; 4 day tenor, Tue, 13/01/2026 maturity).
* Reverse Repo Operation: ₹77,199.00 Crore at 5.26% (Fri, 09/01/2026; 4 day tenor, Tue, 13/01/2026 maturity).
* MSF: ₹0.00 Crore at 5.50% (Sat, 10/01/2026; 2 day tenor, Mon, 12/01/2026 maturity) and ₹273.00 Crore at 5.50% (Fri, 09/01/2026; 3 day tenor, Mon, 12/01/2026 maturity).
* SDFA: ₹800.00 Crore at 5.00% (Sat, 10/01/2026; 2 day tenor, Mon, 12/01/2026 maturity) and ₹29,006.00 Crore at 5.00% (Fri, 09/01/2026; 3 day tenor, Mon, 12/01/2026 maturity).
* Standing Liquidity Facility (SLF) Availed from RBI: ₹13,558.66 Crore.
* Net liquidity injected from outstanding operations [injection (+)/absorption (-)]: ₹1,11,235.66 Crore.
* Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]: -₹29,872.34 Crore.
* **Reserve Position**
* Cash Reserves Position of Scheduled Commercial Banks (as of January 11, 2026): ₹7,30,447.29 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 [surplus (+)/deficit (-)] as on December 12, 2025: ₹3,25,160.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by changes in cash reserve requirements, LAF, MSF, and SDF rates, influencing liquidity and funding costs.
* **Action Required:** Adjust their cash management and borrowing strategies based on the rates and amounts specified in the release.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for money market operations.
Liquidity Adjustment Facility (LAF): Tool used by RBI to manage liquidity through repo and reverse repo operations.
Marginal Standing Facility (MSF): Facility allowing banks to borrow overnight funds from RBI against government securities.
Standing Deposit Facility (SDF): A tool for absorbing liquidity from the banking system without any collateral.
Money Market: Short term financial market which deals with money and financial assets that are easily convertible into cash.
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 11, 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# Sun, 11/01/2026 1 Mon, 12/01/2026 72.00 5.50
4. SDFΔ# Sun, 11/01/2026 1 Mon, 12/01/2026 1,41,180.00 5.00
5. Net liquidity injected from today's
-1,41,108.00
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# Sat, 10/01/2026 2 Mon, 12/01/2026 0.00 5.50
Fri, 09/01/2026 3 Mon, 12/01/2026 273.00 5.50
4. SDFΔ# Sat, 10/01/2026 2 Mon, 12/01/2026 800.00 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
1,11,235.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-29,872.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 11, 2026 7,30,447.29
(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: 2025-2026/1899 Deputy General Manager
(Communications)