**Executive Summary**
This press release by the Reserve Bank of India, dated February 02, 2026, presents the Money Market Operations data as of January 31, 2026. It details overnight and term segment activities, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Standing Deposit Facility (SDF), Standing Liquidity Facility (SLF), and the cash reserve position of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (as of January 31, 2026)**
* **Overnight Segment (I+II+III+IV):** Total volume of ₹22,534.93 Crore with a weighted average rate of 4.55% and a range of 3.50-5.55%. This includes:
* Call Money: ₹3,158.15 Crore with an average rate of 5.28%.
* Triparty Repo: ₹19,183.85 Crore with an average rate of 4.43%.
* Market Repo: ₹192.93 Crore with an average rate of 4.24%.
* Repo in Corporate Bond: ₹0.00 Crore.
* **Term Segment:**
* Notice Money**: ₹28.00 Crore with an average rate of 4.84%.
* Term Money@@: ₹0.00 Crore.
* Triparty Repo: ₹0.00 Crore.
* Market Repo: ₹0.00 Crore.
* Repo in Corporate Bond: ₹0.00 Crore.
* **RBI Operations**
* **Today's Operations (February 02, 2026)**
* MSF: ₹848.00 Crore for 1-day tenor and ₹172.00 Crore for 2-day tenor at 5.50%.
* SDFA: ₹2,94,193.00 Crore for 1-day tenor and ₹36,047.00 for 2-day tenor at 5.00%.
* Net liquidity absorption of ₹3,29,220.00 Crore.
* **Outstanding Operations**
* Repo Operation: ₹25,004.00 Crore for 90-day tenor at 5.34% and ₹1,11,500.00 Crore at 5.26%.
* MSF: ₹0.00 Crore for 2-day tenor and ₹1,240.00 Crore for 3-day tenor at 5.50%.
* SDFA: ₹0.00 Crore for 2-day tenor and ₹6,016.00 Crore for 3-day tenor at 5.00%.
* Standing Liquidity Facility (SLF) Availed from RBI$: ₹13,252.05 Crore.
* Net liquidity injected from outstanding operations: ₹1,44,980.05 Crore.
* Net liquidity injected (outstanding including today's operations): ₹-1,84,239.95 Crore.
* **Reserve Position**
* Cash balances with RBI as on January 31, 2026: ₹7,62,104.28 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 30, 2026: ₹1,36,504.00 Crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on January 15, 2026: ₹3,44,836.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact**
* Affected by changes in liquidity conditions and interest rates in the money market, impacting their borrowing and lending activities. Required to maintain cash reserves with the RBI.
* **Action Required**
* Monitor money market rates and adjust their operations (borrowing and lending) accordingly. Ensure compliance with cash reserve requirements.
**Reserve Bank of India**
* **Impact**
* Responsible for managing liquidity in the money market through various instruments like LAF, MSF, and SDF, which directly impacts the banking system and the economy.
* **Action Required**
* Continuously monitor market conditions and adjust operations to maintain stable liquidity and interest rates.
**Government of India**
* **Impact**
* Surplus cash balance of the Government of India impacts liquidity management and the overall financial system.
* **Action Required**
* Monitor its cash position and coordinate with the RBI for effective liquidity management.
Key Entities Referenced
Money Market: Market for short-term debt instruments.
Reserve Bank of India: Central bank responsible for monetary policy and regulation of the Indian financial system
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 funds overnight from the RBI against their SLR portfolio.
Standing Deposit Facility (SDF): A tool for absorbing 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
February 02, 2026
Money Market Operations as on January 31, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 22,534.93 4.55 3.50-5.55
I. Call Money 3,158.15 5.28 4.50-5.55
II. Triparty Repo 19,183.85 4.43 3.50-5.30
III. Market Repo 192.93 4.24 4.00-4.50
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 28.00 4.84 4.75-4.87
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, 31/01/2026 1 Sun, 01/02/2026 848.00 5.50
Sat, 31/01/2026 2 Mon, 02/02/2026 172.00 5.50
4. SDFΔ# Sat, 31/01/2026 1 Sun, 01/02/2026 2,94,193.00 5.00
Sat, 31/01/2026 2 Mon, 02/02/2026 36,047.00 5.00
5. Net liquidity injected from today's
-3,29,220.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Fri, 30/01/2026 90~ Thu, 30/04/2026 25,004.00 5.34
Fri, 30/01/2026 90~~ Thu, 30/04/2026 1,11,500.00 5.26
(b) Reverse Repo Operation
3. MSF# Fri, 30/01/2026 2 Sun, 01/02/2026 0.00 5.50
Fri, 30/01/2026 3 Mon, 02/02/2026 1,240.00 5.50
4. SDFΔ# Fri, 30/01/2026 2 Sun, 01/02/2026 0.00 5.00
Fri, 30/01/2026 3 Mon, 02/02/2026 6,016.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 13,252.05
E. Net liquidity injected from outstanding operations [injection
1,44,980.05
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,84,239.95
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on January 31, 2026 7,62,104.28
(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 30, 2026 1,36,504.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on January 15, 2026 3,44,836.00
@ 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.
~ As per the Press Release No 2025-2026/1998 dated January 27, 2026.
~~ As per the Press Release No 2025-2026/2015 dated January 30, 2026.
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: 2025-2026/2028 Deputy General Manager
(Communications)