**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 19, 2026, provides details of money market operations as of January 17, 2026. It outlines the volumes, weighted average rates, and ranges for overnight and term segments, as well as RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also includes reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (as of January 17, 2026):**
* **Overnight Segment:** Total volume of ₹10,450.34 Crore with a weighted average rate of 5.07% (range 4.25-5.50%).
* Call Money: ₹802.25 Crore (4.82%)
* Triparty Repo: ₹9,401.75 Crore (5.11%)
* Market Repo: ₹246.34 Crore (4.49%)
* **Term Segment:** No transactions recorded in Notice Money, Term Money, Triparty Repo, Market Repo, or Repo in Corporate Bond.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), & Standing Deposit Facility (SDF) - Today’s Operations:**
* MSF: ₹152.00 Crore (1 day) and ₹25.00 Crore (2 days) at 5.50%.
* SDF: ₹1,23,501.00 Crore (1 day) and ₹12,078.00 Crore (2 days) at 5.00%.
* Net liquidity injected from today's operations: -₹1,35,402.00 Crore
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), & Standing Deposit Facility (SDF) - Outstanding Operations:**
* MSF: ₹0.00 Crore (2 days) and ₹605.00 Crore (3 days) at 5.50%.
* SDF: ₹68.00 Crore (2 days) and ₹3,754.00 Crore (3 days) at 5.00%.
* **Other:**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹13,178.66 Crore.
* Net liquidity injected from outstanding operations: ₹9,961.66 Crore.
* Net liquidity injected (outstanding including today's operations): -₹1,25,440.34 Crore.
* **Reserve Position of Scheduled Commercial Banks:**
* Cash balances with RBI (as of January 17, 2026): ₹7,67,220.10 Crore.
* Average daily cash reserve requirement (fortnight ending January 31, 2026): ₹7,64,046.00 Crore.
* **Government of India Surplus Cash Balance:**
* Reckoned for Auction as of 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:* Provides information on cash reserve requirements and balances with RBI, impacting their liquidity management.
*Action Required:* Banks should review their cash positions and ensure compliance with reserve requirements.
**Money Market Participants**
*Impact:* Offers insights into overnight and term segment activity, as well as RBI's liquidity management operations, influencing their trading strategies.
*Action Required:* Market participants can use this data to inform their decisions related to repos, call money, and other money market instruments.
**RBI**
*Impact:* Shows the results of its liquidity management operations, allowing for adjustments to policies as needed.
*Action Required:* The RBI will monitor the impact of these operations on the money market and broader economy.
Key Entities Referenced
Liquidity Adjustment Facility (LAF): A monetary policy instrument used by the Reserve Bank of India to inject or absorb liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow funds overnight from the Reserve Bank of India at a penal interest rate against their government securities portfolio.
Standing Deposit Facility (SDF): A monetary policy tool that allows the Reserve Bank of India to absorb liquidity from commercial banks without any exchange of collateral.
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the monetary and credit system of the country.
Money Market: A financial market in which short-term debt instruments (less than one year) are traded.
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 17, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 10,450.34 5.07 4.25-5.50
I. Call Money 802.25 4.82 4.50-4.95
II. Triparty Repo 9,401.75 5.11 4.65-5.50
III. Market Repo 246.34 4.49 4.25-5.00
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
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# Sat, 17/01/2026 1 Sun, 18/01/2026 152.00 5.50
Sat, 17/01/2026 2 Mon, 19/01/2026 25.00 5.50
4. SDFΔ# Sat, 17/01/2026 1 Sun, 18/01/2026 1,23,501.00 5.00
Sat, 17/01/2026 2 Mon, 19/01/2026 12,078.00 5.00
5. Net liquidity injected from today's
-1,35,402.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF# 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 2 Sun, 18/01/2026 68.00 5.00
Fri, 16/01/2026 3 Mon, 19/01/2026 3,754.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,178.66
E. Net liquidity injected from outstanding operations [injection
9,961.66
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,25,440.34
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 17, 2026 7,67,220.10
(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: 2025-2026/1944 Deputy General Manager
(Communications)