Money Market Operations as on January 31, 2026

**Executive Summary** This press release, dated February 02, 2026, from the Reserve Bank of India (RBI) presents a summary of money market operations as of January 31, 2026. It details volumes, weighted average rates, and ranges for various money market segments, including overnight and term segments. Additionally, it covers RBI operations like the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). **Key Points / Main Content** * **Money Market Operations (as of January 31, 2026)** * **Overnight Segment (I+II+III+IV):** Volume: ₹22,534.93 Crore, Weighted Average Rate: 4.55%, Range: 3.50-5.55% * Call Money: Volume: ₹3,158.15 Crore, Weighted Average Rate: 5.28%, Range: 4.50-5.55% * Triparty Repo: Volume: ₹19,183.85 Crore, Weighted Average Rate: 4.43%, Range: 3.50-5.30% * Market Repo: Volume: ₹192.93 Crore, Weighted Average Rate: 4.24%, Range: 4.00-4.50% * Repo in Corporate Bond: Volume: ₹0.00 Crore. * **Term Segment:** * Notice Money**: Volume: ₹28.00 Crore, Weighted Average Rate: 4.84%, Range: 4.75-4.87% * Term Money@@: Volume: ₹0.00 Crore. * Triparty Repo: Volume: ₹0.00 Crore. * Market Repo: Volume: ₹0.00 Crore. * Repo in Corporate Bond: Volume: ₹0.00 Crore. * **RBI Operations:** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** * **Today's Operations:** * MSF#: Auction Date: Sat, 31/01/2026, Tenor: 1/2 Days, Maturity Date: Sun, 01/02/2026/Mon, 02/02/2026, Amount: ₹848.00/172.00 Crore, Current Rate/Cut off Rate: 5.50% * SDFA#: Auction Date: Sat, 31/01/2026, Tenor: 1/2 Days, Maturity Date: Sun, 01/02/2026/Mon, 02/02/2026, Amount: ₹2,94,193.00/36,047.00 Crore, Current Rate/Cut off Rate: 5.00% * Net liquidity injected from today's operations [injection (+)/absorption (-)]*: ₹-3,29,220.00 Crore. * **Outstanding Operations:** * Repo Operation: Auction Date: Fri, 30/01/2026, Tenor: 90 Days, Maturity Date: Thu, 30/04/2026, Amount: ₹25,004.00/1,11,500.00 Crore, Rate: 5.34/5.26% * MSF#: Auction Date: Fri, 30/01/2026, Tenor: 2/3 Days, Maturity Date: Sun, 01/02/2026/Mon, 02/02/2026, Amount: ₹0.00/1,240.00 Crore, Rate: 5.50% * SDFA#: Auction Date: Fri, 30/01/2026, Tenor: 2/3 Days, Maturity Date: Sun, 01/02/2026/Mon, 02/02/2026, Amount: ₹0.00/6,016.00 Crore, Rate: 5.00% * Standing Liquidity Facility (SLF) Availed from RBI$: ₹13,252.05 Crore. * Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*: ₹1,44,980.05 Crore. * Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]*: ₹-1,84,239.95 Crore. * **Reserve Position:** * **Cash Reserves Position of Scheduled Commercial Banks:** * 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 the cash reserve requirements and liquidity adjustments managed by the RBI. * **Action Required:** Monitor and adhere to cash reserve requirements, and manage liquidity positions in line with RBI operations. **Money Market Participants** * **Impact:** Influenced by the rates and volumes in the overnight and term money markets. * **Action Required:** Adjust trading strategies based on the rates and liquidity conditions indicated by the RBI's operations. **Government of India** * **Impact:** The surplus cash balance affects auction dynamics and overall liquidity management. * **Action Required:** Monitor the impact of its cash position on money market conditions and coordinate with the RBI as needed.

Key Entities Referenced