**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 16, 2026, reports on the money market operations as of January 14, 2026. It includes details on overnight and term segments, RBI operations like LAF, MSF, and SDF, standing liquidity facilities, and the cash reserve positions of scheduled commercial banks. Key data points are volume, weighted average rates, and ranges for various money market instruments and tenors.
**Key Points / Main Content**
* **Money Markets (January 14, 2026):**
* **Overnight Segment:**
* Total volume: ₹6,75,587.11 Crore, Weighted Average Rate: 5.31%, Range: 0.01-5.98%.
* Call Money: ₹16,343.12 Crore, Weighted Average Rate: 5.39%, Range: 4.60-5.50%.
* Triparty Repo: ₹4,64,481.15 Crore, Weighted Average Rate: 5.29%, Range: 5.21-5.50%.
* Market Repo: ₹1,90,595.44 Crore, Weighted Average Rate: 5.34%, Range: 0.01-5.60%.
* Repo in Corporate Bond: ₹4,167.40 Crore, Weighted Average Rate: 5.47%, Range: 5.40-5.98%.
* **Term Segment:**
* Notice Money: ₹529.42 Crore, Weighted Average Rate: 5.40%, Range: 4.90-5.45%.
* Term Money: ₹620.00 Crore, Range: 5.70-5.85%.
* Triparty Repo: ₹4,266.00 Crore, Weighted Average Rate: 5.44%, Range: 5.20-5.60%.
* Market Repo: ₹9,564.45 Crore, Weighted Average Rate: 5.40%, Range: 2.25-5.50%.
* Repo in Corporate Bond: ₹0.00 Crore.
* **RBI Operations (Today's Operations - January 14, 2026):**
* **Variable Rate:**
* Repo Operation: Auction Date - Wed, 14/01/2026, Tenor - 2 Days, Maturity Date - Fri, 16/01/2026, Amount - ₹29,114.00 Crore, Rate - 5.26%.
* **MSF:**
* Auction Date - Wed, 14/01/2026, Tenor - 1 Day, Maturity Date - Thu, 15/01/2026, Amount - ₹288.00 Crore, Rate - 5.50%.
* Auction Date - Wed, 14/01/2026, Tenor - 2 Days, Maturity Date - Fri, 16/01/2026, Amount - ₹500.00 Crore, Rate - 5.50%.
* **SDF:**
* Auction Date - Wed, 14/01/2026, Tenor - 1 Day, Maturity Date - Thu, 15/01/2026, Amount - ₹1,17,463.00 Crore, Rate - 5.00%.
* Auction Date - Wed, 14/01/2026, Tenor - 2 Days, Maturity Date - Fri, 16/01/2026, Amount - ₹2,056.00 Crore, Rate - 5.00%.
* Net liquidity injected from today's operations (injection (+)/absorption (-)): ₹-89,617.00 Crore
* **Outstanding Operations:** Net liquidity injected from outstanding operations (injection (+)/absorption (-)): ₹13,178.66 Crore.
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹13,178.66 Crore.
* **Net liquidity injected (outstanding including today's operations) (injection (+)/absorption (-)):** ₹-76,438.34 Crore.
* **Cash Reserves Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 14, 2026: ₹7,49,334.88 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 14, 2026:** ₹29,114.00 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 liquidity conditions reported by RBI, which can influence their lending capacity and overall financial stability.
* **Action Required:** Need to maintain required cash reserve balances with RBI.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, overseeing monetary policy, liquidity, and financial stability.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
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 excess liquidity from the commercial banks without any collateral.
Money Markets: The markets where short-term debt instruments are traded, including call money, repo, and triparty repo.
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 16, 2026
Money Market Operations as on January 14, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,75,587.11 5.31 0.01-5.98
I. Call Money 16,343.12 5.39 4.60-5.50
II. Triparty Repo 4,64,481.15 5.29 5.21-5.50
III. Market Repo 1,90,595.44 5.34 0.01-5.60
IV. Repo in Corporate Bond 4,167.40 5.47 5.40-5.98
B. Term Segment
I. Notice Money** 529.42 5.40 4.90-5.45
II. Term Money@@ 620.00 - 5.70-5.85
III. Triparty Repo 4,266.00 5.44 5.20-5.60
IV. Market Repo 9,564.45 5.40 2.25-5.50
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 Wed, 14/01/2026 2 Fri, 16/01/2026 29,114.00 5.26
(b) Reverse Repo Operation
3. MSF# Wed, 14/01/2026 1 Thu, 15/01/2026 288.00 5.50
Wed, 14/01/2026 2 Fri, 16/01/2026 500.00 5.50
4. SDFΔ# Wed, 14/01/2026 1 Thu, 15/01/2026 1,17,463.00 5.00
Wed, 14/01/2026 2 Fri, 16/01/2026 2,056.00 5.00
5. Net liquidity injected from today's
-89,617.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,178.66
E. Net liquidity injected from outstanding operations [injection
13,178.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-76,438.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 14, 2026 7,49,334.88
(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 14, 2026 29,114.00
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: 2025-2026/1929 Deputy General Manager
(Communications)