Money Market Operations as on January 15, 2026

**Executive Summary** This press release from the Reserve Bank of India (RBI), dated January 16, 2026, presents the money market operations as of January 15, 2026. It details the liquidity adjustment facility, marginal standing facility, standing deposit facility operations, and the cash reserves position of scheduled commercial banks. It also includes information on the surplus cash balance reckoned for auction as of January 14, 2026, and the net durable liquidity as of December 31, 2025. **Key Points / Main Content** * **Money Market Operations (January 15, 2026):** * **Overnight and Term Segments:** Volumes for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond are all at 0.00. * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) (Today's Operations):** * Fixed Rate: Details on fixed rate operations not available in the document. * Variable Rate: * Repo Operation: ₹4,437.00 at 5.50% * Reverse Repo Operation: ₹1,54,487.00 at 5.00%. * MSF#: Details on MSF operations not available in the document. * SDFA#: Details on SDFA operations not available in the document. * Net liquidity injected: ₹ -1,50,050.00 * **LAF, MSF & SDF (Outstanding Operations):** * Variable Rate: * Repo Operation: ₹29,114.00 at 5.26% * Reverse Repo Operation: ₹500.00 at 5.50%. * MSF#: Details on MSF operations not available in the document. * SDFA#: Details on SDFA operations not available in the document. * **Standing Liquidity Facility (SLF) Availed from RBI:** ₹13,178.66. * **Net liquidity injected from outstanding operations:** ₹40,736.66 * **Net liquidity injected (outstanding including today's operations):** ₹ -1,09,313.34 * **Reserve Position:** * **Cash Reserves Position of Scheduled Commercial Banks:** * Cash balances with RBI as on January 15, 2026: ₹7,23,481.46. * 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 14, 2026: ₹29,114.00. * **Net durable liquidity (December 31, 2025):** ₹3,43,698.00. **Impact Analysis** **Scheduled Commercial Banks** * **Impact**: Banks are affected by the changes in liquidity conditions and the overnight and term segment operations, which can influence their borrowing and lending rates. The changes in the cash reserve requirements also affect their operational liquidity. * **Action Required**: Banks need to monitor the RBI's operations and adjust their liquidity management strategies accordingly to comply with the regulatory requirements and optimize their financial performance. **Financial Institutions** * **Impact**: Financial institutions are impacted by the fixed and variable rates of Repo and Reverse Repo operations, along with Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) which affects the money market dynamics. * **Action Required**: Need to monitor the impact on financial benchmarks and make necessary adjustments to the trading strategies and portfolios as needed. **Government of India** * **Impact**: The Government of India's surplus cash balance reckoned for auction is tracked and impacted by the money market operations. * **Action Required**: Needs to be aware of the cash balance for the auction and to continue to monitor the auctions by RBI.

Key Entities Referenced