**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) detailing money market operations as of January 14, 2026. It provides information on overnight and term segments, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Standing Deposit Facility (SDF), Standing Liquidity Facility (SLF), and the cash reserve position of scheduled commercial banks. The release also includes press release numbers for reference.
**Key Points / Main Content**
* **Money Markets (as on January 14, 2026):**
* **Overnight Segment:**
* Total volume: ₹6,75,587.11 Crore.
* Weighted Average Rate: 5.31%.
* Range: 0.01-5.98%.
* Details provided for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:**
* Details provided for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* Weighted Average Rate: 5.40%.
* Range: 4.90 - 5.45%.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:**
* Variable Rate Repo Operation conducted on January 14, 2026, with a tenor of 2 days, maturing on January 16, 2026.
* MSF and SDFA operations conducted on January 14, 2026, with tenors of 1 and 2 days.
* Net liquidity injected from today's operations: -₹89,617.00 Crore.
* **Outstanding Operations:**
* Details are not provided, but categories for Fixed Rate and Variable Rate Repo and Reverse Repo Operations, MSF, and SDFA are shown.
* **Standing Liquidity Facility (SLF) Availed from RBI:**
* ₹13,178.66 Crore.
* **Net Liquidity Injected (Outstanding Operations):**
* ₹13,178.66 Crore.
* **Net Liquidity Injected (Outstanding Including Today's Operations):**
* -₹76,438.34 Crore.
* **Reserve Position (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:** Banks are impacted by the details on the Cash Reserve Ratio (CRR) requirements, LAF, MSF, and SDF operations and overall liquidity conditions.
**Action Required:** Banks need to manage their liquidity positions in line with the conditions set out in the Money Market Operations.
* **Financial Institutions and Market Participants:**
**Impact:** Financial institutions and market participants are impacted by the data provided on volumes, rates, and ranges in the overnight and term money markets.
**Action Required:** The data can be used to inform decisions related to money market instruments.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the money supply and credit system.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market, involving repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their government securities portfolio.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
Money Market: A segment of the financial market dealing with short-term debt instruments (less than a year).
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)