**Executive Summary**
This press release from the Reserve Bank of India, dated December 4, 2025, reports on money market operations as of December 3, 2025. It covers overnight and term segments, RBI operations including LAF, MSF, and SDF, as well as reserve positions of scheduled commercial banks. It provides volumes, weighted average rates, ranges, auction dates, tenors, maturity dates, and amounts for various transactions.
**Key Points / Main Content**
* **Money Markets:**
* **Overnight Segment:** Total volume is ₹6,64,238.43 Crore with a weighted average rate of 5.22%.
* Call Money: Volume ₹18,928.82 Crore, average rate 5.35%.
* Triparty Repo: Volume ₹3,96,732.70 Crore, average rate 5.17%.
* Market Repo: Volume ₹2,45,396.41 Crore, average rate 5.30%.
* Repo in Corporate Bond: Volume ₹3,180.50 Crore, average rate 5.39%.
* **Term Segment:**
* Notice Money: Volume ₹314.75 Crore, average rate 5.37%.
* Term Money: Volume ₹1,387.00 Crore.
* Triparty Repo: Volume ₹1,265.00 Crore, average rate 5.27%.
* Market Repo: Volume ₹185.95 Crore, average rate 5.65%.
* 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: Auctioned on Wed, 03/12/2025; ₹806.00 Crore.
* SDF: Auctioned on Wed, 03/12/2025; ₹1,58,529.00 Crore.
* Net liquidity injected from today's operations [injection (+)/absorption (-)]*: -₹1,57,723.00 Crore.
* Outstanding Operations:
* Reverse Repo Operation: Auctioned on Tue, 02/12/2025; ₹50,017.00 Crore; Auctioned on Mon, 01/12/2025; ₹56,935.00 Crore.
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,278.17 Crore.
* Net liquidity injected from outstanding operations [injection (+)/absorption (-)]: -₹98,673.83 Crore.
* Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]: -₹2,56,396.83 Crore.
* **Reserve Position:**
* 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 [surplus (+)/deficit (-)] as on November 14, 2025: ₹3,61,346.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Their liquidity and reserve requirements are directly affected by the RBI's money market operations.
* **Action Required:** Banks need to manage their cash reserves and liquidity positions in accordance with the reported data and RBI guidelines.
**Financial Institutions Participating in Money Markets**
* **Impact:** They are directly impacted by the rates and volumes in various money market segments, affecting their borrowing and lending strategies.
* **Action Required:** Adjust strategies based on overnight and term segment data, and LAF/MSF/SDF operation outcomes.
Key Entities Referenced
Standing Deposit Facility (SDF): A tool for absorbing liquidity from the banking system.
Reserve Bank of India (RBI): India's central bank; primary subject of the press release regarding money market operations.
Liquidity Adjustment Facility (LAF): A tool used by 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.
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)