**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated December 04, 2025, provides details on money market operations as of December 03, 2025. It covers overnight and term segment transactions, RBI operations including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF), and the cash reserve position of scheduled commercial banks. The report includes volumes, weighted average rates, and ranges for various money market instruments.
**Key Points / Main Content**
* **Money Market Operations (December 03, 2025):**
* **Overnight Segment:** Total volume is ₹6,64,238.43 Crore, with a weighted average rate of 5.22% and a rate range of 4.75-6.70%.
* Call Money: ₹18,928.82 Crore volume, 5.35% average rate.
* Triparty Repo: ₹3,96,732.70 Crore volume, 5.17% average rate.
* Market Repo: ₹2,45,396.41 Crore volume, 5.30% average rate.
* Repo in Corporate Bond: ₹3,180.50 Crore volume, 5.39% average rate.
* **Term Segment:**
* Notice Money: ₹314.75 Crore volume, 5.37% average rate.
* Term Money: ₹1,387.00 Crore volume.
* Triparty Repo: ₹1,265.00 Crore volume, 5.27% average rate.
* Market Repo: ₹185.95 Crore volume, 5.65% average rate.
* Repo in Corporate Bond: ₹0.00 Crore volume.
* **RBI Operations:**
* **Today's Operations (December 03, 2025):**
* MSF: ₹806.00 Crore amount, 5.75% current rate, maturing on December 04, 2025.
* SDFA: ₹1,58,529.00 Crore amount, 5.25% current rate, maturing on December 04, 2025.
* Net liquidity injected: -₹1,57,723.00 Crore (absorption).
* **Outstanding Operations:**
* Repo Operation (Tue, 02/12/2025): ₹50,017.00 Crore amount, 5.49% current rate, maturing on December 04, 2025.
* Reverse Repo Operation (Mon, 01/12/2025): ₹56,935.00 Crore amount, 5.49% current rate, maturing on December 05, 2025.
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,278.17 Crore.
* Net liquidity injected from outstanding operations: -₹98,673.83 Crore (absorption).
* Net liquidity injected (outstanding including today's operations): -₹2,56,396.83 Crore (absorption).
* **Cash Reserves Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on December 03, 2025: ₹7,28,969.72 Crore.
* Average daily cash reserve requirement for the fortnight ending December 12, 2025: ₹7,39,862.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on December 03, 2025: ₹0.00 Crore.
* Net durable liquidity as on November 14, 2025: ₹3,61,346.00 Crore.
**Impact Analysis**
* **Scheduled Commercial Banks:**
* **Impact:** Impacted by the changes in cash reserve requirements and liquidity management through various RBI facilities.
* **Action Required:** Banks need to manage their cash reserves and liquidity positions in accordance with the guidelines and rates specified in the release. They need to factor in the impact of liquidity injections and absorptions via LAF, MSF, and SDF operations.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for monetary policy and regulating the banking system; issues this press release on money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their SLR portfolio at a penal interest rate.
Standing Deposit Facility (SDF): A tool for absorbing liquidity from the banking system without any collateral.
Money Market: A market for short-term debt instruments, the operations of which are described in the document.
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
December 04, 2025
Money Market Operations as on December 03, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,64,238.43 5.22 4.75-6.70
I. Call Money 18,928.82 5.35 4.75-5.60
II. Triparty Repo 3,96,732.70 5.17 5.01-5.25
III. Market Repo 2,45,396.41 5.30 4.85-5.50
IV. Repo in Corporate Bond 3,180.50 5.39 5.35-6.70
B. Term Segment
I. Notice Money** 314.75 5.37 5.00-5.50
II. Term Money@@ 1,387.00 - 5.40-5.90
III. Triparty Repo 1,265.00 5.27 5.20-5.35
IV. Market Repo 185.95 5.65 5.50-5.85
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# Wed, 03/12/2025 1 Thu, 04/12/2025 806.00 5.75
4. SDFΔ# Wed, 03/12/2025 1 Thu, 04/12/2025 1,58,529.00 5.25
5. Net liquidity injected from today's
-1,57,723.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation Tue, 02/12/2025 2 Thu, 04/12/2025 50,017.00 5.49
Mon, 01/12/2025 4 Fri, 05/12/2025 56,935.00 5.49
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,278.17
E. Net liquidity injected from outstanding operations [injection
-98,673.83
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,56,396.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 03, 2025 7,28,969.72
(ii) Average daily cash reserve requirement for the fortnight ending December 12, 2025 7,39,862.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ December 03, 2025 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on November 14, 2025 3,61,346.00
@ 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.
Ajit Prasad
Press Release: 2025-2026/1622 Deputy General Manager
(Communications)