**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated January 27, 2026, reports on money market operations as of January 26, 2026. It details volumes, weighted average rates, and ranges for various money market segments and RBI operations, including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF). It also provides data on cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets:**
* Overnight segment volume is reported as 0.00.
* Term segment volume is reported as 0.00.
* **RBI Operations (Today's Operations - January 26, 2026):**
* MSF: ₹191.00 Crore at a rate of 5.50% with maturity date of January 27, 2026.
* SDFA: ₹1,41,031.00 Crore at a rate of 5.00% with maturity date of January 27, 2026.
* Net liquidity injected from today's operations: -₹1,40,840.00 Crore (absorption).
* **RBI Operations (Outstanding Operations):**
* Repo Operation: ₹50,010.00 Crore at 5.26% maturing on January 27, 2026, and ₹26,535.00 Crore at 5.26% maturing on January 29, 2026.
* MSF: Various amounts at 5.50% maturing on January 27, 2026.
* SDFA: Various amounts at 5.00% maturing on January 27, 2026.
* **Other Liquidity Facilities:**
* Standing Liquidity Facility (SLF) availed from RBI: ₹13,252.05 Crore.
* Net liquidity injected from outstanding operations: ₹83,853.05 Crore.
* Net liquidity injected (outstanding including today's operations): -₹56,986.95 Crore.
* **Reserve Position:**
* Cash balances with RBI as on January 26, 2026: ₹7,67,782.78 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 23, 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 cash reserve requirements and liquidity conditions managed by the RBI through various instruments.
* **Action Required:** Need to maintain required cash reserves and manage liquidity positions based on RBI's operations and guidelines.
**Money Market Participants**
* **Impact:** Affected by the rates and availability of funds in various money market segments.
* **Action Required:** Need to adjust trading and investment strategies based on the information provided in the report.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank, regulates money market operations
Liquidity Adjustment Facility (LAF): Monetary policy tool used to manage liquidity in the market
Marginal Standing Facility (MSF): Facility under which scheduled commercial banks can borrow overnight funds
Standing Deposit Facility (SDF): Tool for absorbing liquidity from the banking system
Money Market: Deals with short-term debt instruments. This document shows operations in this market.
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 26, 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# Mon, 26/01/2026 1 Tue, 27/01/2026 191.00 5.50
4. SDFΔ# Mon, 26/01/2026 1 Tue, 27/01/2026 1,41,031.00 5.00
5. Net liquidity injected from today's
-1,40,840.00
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# Sun, 25/01/2026 2 Tue, 27/01/2026 0.00 5.50
Sat, 24/01/2026 3 Tue, 27/01/2026 60.00 5.50
Fri, 23/01/2026 4 Tue, 27/01/2026 936.00 5.50
4. SDFΔ# Sun, 25/01/2026 2 Tue, 27/01/2026 0.00 5.00
Sat, 24/01/2026 3 Tue, 27/01/2026 3,000.00 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
83,853.05
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-56,986.95
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 26, 2026 7,67,782.78
(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: 2025-2026/1990 Deputy General Manager
(Communications)