New Delhi, Dec. 26 -- The Reserve Bank of India is expected to inject liquidity of around Rs 1.5 lakh crore to Rs 2.5 lakh crore during the first quarter (January-March) of calendar year 2026 through open market operations (OMOs), according to a report by HSBC Asset Management.

The report said that beyond the first quarter, the RBI may conduct additional OMOs worth Rs 2 lakh crore to Rs 3 lakh crore during the rest of 2026. This would largely depend on the extent of accretion or depletion of foreign exchange assets on the central bank's balance sheet.

It stated "We expect 1.5-2.5 lakh cr of OMO in Q1 2026, with potentially another 2-3 lakh cr OMO in the rest of the calendar year"

The report noted that such liquidity infusion could tilt...