**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 19, 2026, reports on money market operations as of January 17, 2026. It details overnight and term segment transactions, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF), and the cash reserve position of scheduled commercial banks. The report provides volume, weighted average rates, ranges, auction dates, tenor, maturity dates, amounts, and current rates for various financial instruments.
**Key Points / Main Content**
* **Overnight Segment:**
* Total volume of overnight transactions: ₹10,450.34 Crore, with a weighted average rate of 5.07% (range: 4.25-5.50%).
* Includes Call Money (₹802.25 Crore), Triparty Repo (₹9,401.75 Crore), Market Repo (₹246.34 Crore) and Repo in Corporate Bond (₹0.00 Crore).
* **Term Segment:**
* Volumes reported as ₹0.00 Crore for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Today's Operations):**
* MSF: ₹152.00 Crore (1-day tenor) and ₹25.00 Crore (2-day tenor) at a rate of 5.50%.
* SDF: ₹1,23,501.00 Crore (1-day tenor) and ₹12,078.00 Crore (2-day tenor) at a rate of 5.00%.
* Net liquidity injected from today's operations: ₹-1,35,402.00 Crore.
* **RBI Operations (Outstanding Operations):**
* MSF: ₹0.00 Crore (2-day tenor) and ₹605.00 Crore (3-day tenor) at a rate of 5.50%.
* SDF: ₹68.00 Crore (2-day tenor) and ₹3,754.00 Crore (3-day tenor) at a rate of 5.00%.
* **Other Liquidity Facilities:**
* 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.
* **Cash Reserve Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on January 17, 2026: ₹7,67,220.10 Crore.
* Average daily cash reserve requirement for the fortnight ending January 31, 2026: ₹7,64,046.00 Crore.
* **Government Surplus:**
* 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:** Affected by the overnight and term money market operations, RBI's liquidity management through LAF, MSF, SDF, and the cash reserve requirements.
* **Action Required:** Monitor the rates and volumes of money market operations to manage their liquidity positions and comply with the cash reserve requirements set by RBI.
**RBI**
* **Impact:** The report reflects the impact of the RBI's monetary policy operations on the money market and overall liquidity in the banking system.
* **Action Required:** Use the data to assess the effectiveness of its policies and make adjustments as necessary to maintain financial stability.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the money market and conducting monetary policy.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system.
Money Market: Overall context for the different segments and operations reported
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)