**Executive Summary**
This press release from the Reserve Bank of India, dated January 27, 2026, reports on money market operations as of January 25, 2026. It details volumes, weighted average rates, and ranges for various money market segments and RBI operations like LAF, MSF, and SDF. The release also presents the cash reserve positions of scheduled commercial banks. The next fortnight ending is January 31, 2026.
**Key Points / Main Content**
* **Money Market Operations (as of January 25, 2026):**
* **Overnight Segment:** Shows a volume of 0.00 for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:** Shows a volume of 0.00 for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* **Today's Operations:**
* Repo Operation: 15.00 at 5.50% on Mon, 26/01/2026, after auction on Sun, 25/01/2026.
* Reverse Repo Operation: 0.00 at 5.50% on Tue, 27/01/2026, after auction on Sun, 25/01/2026.
* MSF: 1,35,896.00 at 5.00% on Mon, 26/01/2026, after auction on Sun, 25/01/2026.
* SDFA: 0.00 at 5.00% on Tue, 27/01/2026, after auction on Sun, 25/01/2026.
* Net liquidity injected from today's operations: -1,35,881.00.
* **Outstanding Operations:**
* Repo Operation: 50,010.00 at 5.26% on Tue, 27/01/2026, after auction on Thu, 22/01/2026, 26,535.00 at 5.26% on Thu, 29/01/2026, after auction on Wed, 21/01/2026.
* Reverse Repo Operation: 0.00 at 5.50% on Mon, 26/01/2026, after auction on Sat, 24/01/2026, 60.00 at 5.50% on Tue, 27/01/2026, after auction on Sat, 24/01/2026, 0.00 at 5.50% on Mon, 26/01/2026, after auction on Fri, 23/01/2026, and 936.00 at 5.50% on Tue, 27/01/2026, after auction on Fri, 23/01/2026.
* MSF: 0.00 at 5.00% on Mon, 26/01/2026, after auction on Sat, 24/01/2026, 3,000.00 at 5.00% on Tue, 27/01/2026, after auction on Sat, 24/01/2026, 25.00 at 5.00% on Mon, 26/01/2026, after auction on Fri, 23/01/2026, and 3,940.00 at 5.00% on Tue, 27/01/2026, after auction on Fri, 23/01/2026.
* **Standing Liquidity Facility (SLF) Availed from RBI:** 13,252.05.
* **Net liquidity injected from outstanding operations:** 83,828.05
* **Net liquidity injected (outstanding including today's operations):** -52,052.95.
* **Reserve Position:**
* Cash balances with RBI as on January 25, 2026: 7,72,777.01
* Average daily cash reserve requirement for the fortnight ending January 31, 2026: 7,64,046.00
* Government of India Surplus Cash Balance Reckoned for Auction as on January 23, 2026: 0.00.
* Net durable liquidity [surplus (+)/deficit (-)] as on December 31, 2025: 3,43,698.00
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by changes in liquidity, interest rates, and reserve requirements set by the RBI, influencing their operational costs and profitability.
* **Action Required:** Maintain required cash balances with RBI and comply with regulations related to LAF, MSF, and SDF.
**Government of India**
* **Impact:** Government cash balance positions impact the overall liquidity in the market.
* **Action Required:** Monitor government cash balance positions and coordinate with the RBI on liquidity management.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, overseeing the money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the banking system.
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 without any collateral.
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 27, 2026
Money Market Operations as on January 25, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
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# Sun, 25/01/2026 1 Mon, 26/01/2026 15.00 5.50
Sun, 25/01/2026 2 Tue, 27/01/2026 0.00 5.50
4. SDFΔ# Sun, 25/01/2026 1 Mon, 26/01/2026 1,35,896.00 5.00
Sun, 25/01/2026 2 Tue, 27/01/2026 0.00 5.00
5. Net liquidity injected from today's
-1,35,881.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Thu, 22/01/2026 5 Tue, 27/01/2026 50,010.00 5.26
Wed, 21/01/2026 8 Thu, 29/01/2026 26,535.00 5.26
(b) Reverse Repo Operation
3. MSF# Sat, 24/01/2026 2 Mon, 26/01/2026 0.00 5.50
Sat, 24/01/2026 3 Tue, 27/01/2026 60.00 5.50
Fri, 23/01/2026 3 Mon, 26/01/2026 0.00 5.50
Fri, 23/01/2026 4 Tue, 27/01/2026 936.00 5.50
4. SDFΔ# Sat, 24/01/2026 2 Mon, 26/01/2026 0.00 5.00
Sat, 24/01/2026 3 Tue, 27/01/2026 3,000.00 5.00
Fri, 23/01/2026 3 Mon, 26/01/2026 25.00 5.00
Fri, 23/01/2026 4 Tue, 27/01/2026 3,940.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,252.05
E. Net liquidity injected from outstanding operations [injection
83,828.05
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-52,052.95
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 25, 2026 7,72,777.01
(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 23, 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: 2025-2026/1989 Deputy General Manager
(Communications)