**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 provides data on overnight and term segments, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Standing Deposit Facility (SDF), and cash reserve positions of scheduled commercial banks. The report also outlines the net liquidity injected into the market through various operations.
**Key Points / Main Content**
* **Money Markets (January 16, 2026)**
* **Overnight Segment:** Total volume of ₹11,402.72 Crore with a weighted average rate of 5.18% (range: 4.30-6.30%).
* Call Money: ₹1,001.05 Crore, 4.89% weighted average rate.
* Triparty Repo: ₹5,510.00 Crore, 5.05% weighted average rate.
* Market Repo: ₹254.27 Crore, 4.42% weighted average rate.
* Repo in Corporate Bond: ₹4,637.40 Crore, 5.44% weighted average rate.
* **Term Segment:** Total volume of ₹16,346.64 crore with a weighted average rate of 5.41% (range: 4.60-5.48%).
* Notice Money: ₹283.50 crore.
* Triparty Repo: ₹4,71,597.55 crore, 5.18% weighted average rate.
* Market Repo: ₹2,01,784.90 crore, 5.26% weighted average rate.
* Repo in Corporate Bond: ₹0.00 crore.
* **RBI Operations (January 16, 2026)**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Today's operations.
* MSF: Auction date of Fri, 16/01/2026, with amounts of ₹280.00 Crore (1 day tenor), ₹0.00 Crore (2 day tenor) and ₹605.00 Crore (3 day tenor) at a rate of 5.50%.
* SDF: Auction date of Fri, 16/01/2026, with amounts of ₹1,31,744.00 Crore (1 day tenor), ₹68.00 Crore (2 day tenor) and ₹3,754.00 Crore (3 day tenor) at a rate of 5.00%.
* Net liquidity absorbed from today's operations: ₹-1,34,681.00 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 (January 16, 2026)**
* 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 Crore.
* Net durable liquidity as on December 31, 2025: ₹3,43,698.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** The report provides data on cash reserves, liquidity conditions, and applicable rates, which affect banks' operational planning, liquidity management, and profitability.
* **Action Required:** Banks must adhere to the cash reserve requirements, monitor liquidity conditions, and adjust their strategies based on the reported rates and volumes in the money market.
**Reserve Bank of India (RBI)**
* **Impact:** The report shows the outcome of the central bank's monetary policy operations.
* **Action Required:** No action is required as this is the RBI publishing a report of their actions.
**Government of India**
* **Impact:** Surplus cash balances held with the RBI are disclosed, and the liquidity conditions in the market are affected.
* **Action Required:** Monitor and coordinate with the RBI on the management of surplus cash balances to ensure effective liquidity management and fiscal operations.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for monetary policy and regulation in India, and the primary subject of the press release.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI.
Standing Deposit Facility (SDF): A tool allowing the RBI to absorb liquidity from the banking system without requiring collateral.
Money Market: The market for short-term debt instruments, where liquidity management operations take place.
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)