**Executive Summary**
This Reserve Bank of India (RBI) press release, dated January 12, 2026, reports on money market operations and RBI operations as of January 11, 2026. It details volumes, weighted average rates, and ranges for various money market segments, as well as liquidity adjustment facilities. The release also specifies the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets:**
* **Overnight Segment:** The volume is zero for call money, triparty repo, market repo, and repo in corporate bond.
* **Term Segment:** The volume is zero for notice money, term money, triparty repo, market repo, and repo in corporate bond.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Today's operations include fixed and variable rate repo and reverse repo, MSF, and SDFA.
* **MSF:** On January 11, 2026, volume was 72.00 Cr.
* **SDFA:** On January 11, 2026, volume was 1,41,180.00 Cr.
* **Net Liquidity Injected:** Net liquidity absorbed from today's operations is -1,41,108.00 Cr.
* **Outstanding Operations:** Fixed and variable rate repo and reverse repo, MSF, and SDFA.
* **MSF:** On January 10, 2026, volume was 0.00 Cr.
* **SDFA:** On January 10, 2026, volume was 800.00 Cr.
* **Standing Liquidity Facility (SLF):** SLF availed from RBI is 13,558.66 Cr.
* **Net Liquidity Injected:**
* Net liquidity injected from outstanding operations is 1,11,235.66 Cr.
* Net liquidity injected from outstanding including today's operations is -29,872.34 Cr.
* **Reserve Position:**
* **Cash Reserves of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 11, 2026: 7,30,447.29 Cr.
* Average daily cash reserve requirement for the fortnight ending January 15, 2026: 7,48,477.00 Cr.
* Government of India Surplus Cash Balance Reckoned for Auction as on January 09, 2026: 1,27,210.00 Cr.
* Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025: 3,25,160.00 Cr.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact**
* Affected by the cash reserve requirements and the terms of the LAF, MSF and SDF.
* **Action Required**
* Ensure compliance with the specified cash reserve requirements.
* Manage liquidity positions based on the reported money market operations and RBI facilities.
**Government of India**
* **Impact**
* Influenced by the management of surplus cash balances through auctions.
* **Action Required**
* Monitor the levels of surplus cash balances.
**Financial Markets Participants**
* **Impact**
* Affected by the liquidity and interest rate conditions in the money markets.
* **Action Required**
* Adjust trading and investment strategies based on the information provided in the release.
Key Entities Referenced
Reserve Bank of India (RBI): India's central bank, responsible for monetary policy and banking regulation.
Liquidity Adjustment Facility (LAF): A tool used by the RBI 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 additional amounts of overnight money from the RBI.
Standing Deposit Facility (SDF): A facility allowing the RBI to absorb liquidity from banks without providing collateral.
Mumbai: Location of the Department of Communication, Central Office of RBI where the press release originates.
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
(b) 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)