**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 19, 2026, reports on money market operations as of January 16, 2026. It details overnight and term segment transactions, RBI operations including liquidity adjustment facilities, and the reserve positions of scheduled commercial banks. The release also includes several footnotes referring to previous press releases and notifications.
**Key Points / Main Content**
* **Money Markets (as of January 16, 2026):**
* **Overnight Segment:**
* Total volume: ₹11,402.72 Crore, Weighted Average Rate: 5.18%, Range: 4.30-6.30%
* Call Money: ₹1,001.05 Crore, Weighted Average Rate: 4.89%, Range: 4.50-5.47%
* Triparty Repo: ₹5,510.00 Crore, Weighted Average Rate: 5.05%, Range: 4.60-5.25%
* Market Repo: ₹254.27 Crore, Weighted Average Rate: 4.42%, Range: 4.30-4.75%
* Repo in Corporate Bond: ₹4,637.40 Crore, Weighted Average Rate: 5.44%, Range: 5.38-6.30%
* **Term Segment:**
* Total volume: ₹16,346.64 Crore, Weighted Average Rate: 5.41%, Range: 4.60-5.48%
* Notice Money: ₹283.50 Crore, Range: 5.50-5.85%
* Triparty Repo: ₹4,71,597.55 Crore, Weighted Average Rate: 5.18%, Range: 4.81-5.50%
* Market Repo: ₹2,01,784.90 Crore, Weighted Average Rate: 5.26%, Range: 2.00-5.60%
* Repo in Corporate Bond: ₹0.00 Crore.
* **RBI Operations (Today's Operations - January 16, 2026):**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* MSF: ₹280.00 Crore (1-day tenor), ₹0.00 Crore (2-day tenor), ₹605.00 Crore (3-day tenor), Current Rate: 5.50%
* SDFA: ₹1,31,744.00 Crore (1-day tenor), ₹68.00 Crore (2-day tenor), ₹3,754.00 Crore (3-day tenor), Current Rate: 5.00%
* Net liquidity injected from today's operations: ₹-1,34,681.00 Crore
* **Outstanding Operations:**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹13,178.66 Crore
* Net liquidity injected from outstanding operations: ₹13,178.66 Crore
* Net liquidity injected (outstanding including today's operations): ₹-1,21,502.34 Crore
* **Reserve Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 16, 2026: ₹7,76,184.69 Crore
* Average daily cash reserve requirement for the fortnight ending January 31, 2026: ₹7,64,046.00 Crore
* Government of India Surplus Cash Balance Reckoned for Auction as on January 16, 2026: ₹0.00
* Net durable liquidity as on December 31, 2025: ₹3,43,698.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks:**
* **Impact:** Affected by the cash reserve requirements and the terms and conditions for borrowing and lending in the money market, as well as the conditions for the SLF
* **Action Required:** Monitor and adhere to the cash reserve requirements and money market conditions as specified by the RBI.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, involved in money market operations and liquidity management.
Liquidity Adjustment Facility (LAF): A tool used by RBI to manage liquidity in the money market, including Repo and Reverse Repo operations.
Marginal Standing Facility (MSF): A facility where scheduled commercial banks can borrow overnight funds from RBI against their government securities portfolio.
Standing Deposit Facility (SDF): A tool that allows RBI to absorb liquidity from the banking system.
Money Market: Market for short-term debt instruments, including call money, triparty repo, market repo, and repo in corporate bonds, which this document reports on.
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 19, 2026
Money Market Operations as on January 16, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 11,402.72 5.18 4.30-6.30
I. Call Money 1,001.05 4.89 4.50-5.47
II. Triparty Repo 5,510.00 5.05 4.60-5.25
III. Market Repo 254.27 4.42 4.30-4.75
IV. Repo in Corporate Bond 4,637.40 5.44 5.38-6.30
B. Term Segment
I. Notice Money** 16,346.64 5.41 4.60-5.48
II. Term Money@@ 283.50 - 5.50-5.85
III. Triparty Repo 4,71,597.55 5.18 4.81-5.50
IV. Market Repo 2,01,784.90 5.26 2.00-5.60
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# Fri, 16/01/2026 1 Sat, 17/01/2026 280.00 5.50
Fri, 16/01/2026 2 Sun, 18/01/2026 0.00 5.50
Fri, 16/01/2026 3 Mon, 19/01/2026 605.00 5.50
4. SDFΔ# Fri, 16/01/2026 1 Sat, 17/01/2026 1,31,744.00 5.00
Fri, 16/01/2026 2 Sun, 18/01/2026 68.00 5.00
Fri, 16/01/2026 3 Mon, 19/01/2026 3,754.00 5.00
5. Net liquidity injected from today's
-1,34,681.00
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
-1,21,502.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 16, 2026 7,76,184.69
(ii) Average daily cash reserve requirement for the fortnight ending^ January 31, 2026 7,64,046.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ January 16, 2026 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on December 31, 2025 3,43,698.00
@ 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: 2025-2026/1942 Deputy General Manager
(Communications)