Market participants offered to sell Government Securities (G-Secs) aggregating ₹1,22,525 crore to the RBI at the open market operation (OMO) purchase auction on Monday against the notified amount of ₹50,000 crore. The offer to sell higher amount of G-Secs comes as the banking system is having only a small surplus.
The RBI bought seven G-Sec, maturing between 2029 and 2053, and injected the notified amount into the banking system.
As on January 11, 2026, surplus liquidity in the banking system stood at just ₹29,872 crore. Bankers’ say, ideally, the liquidity surplus in the banking system should be about ₹1.5-2 lakh crore to ensure further transmission of the cumulative 125 basis points repo rate cut effected between February 2025 and December 2025.
The aforementioned auction is part of liquidity injection measures aggregating to ₹2 lakh crore via four tranches of OMO purchase of G-Secs amounting to ₹50,000 crore each announced by the RBI on December 23, 2025.
Further, the RBI will be conducting a USD/INR Buy/Sell Swap auction of $10 billion for a tenor of 3 years on January 13, 2026.
Published on January 12, 2026
