**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) detailing the money market operations as of December 4, 2025. It provides information on overnight and term segment transactions, RBI operations including LAF, MSF, and SDF, and the cash reserve position of scheduled commercial banks. The release also outlines net liquidity injected or absorbed through these operations.
**Key Points / Main Content**
* **Money Markets**
* Overnight Segment (Call Money, Triparty Repo, Market Repo, Repo in Corporate Bond): Total volume ₹6,41,845.75 Crore with a weighted average rate of 5.30% (Range: 4.00-6.40).
* Term Segment (Notice Money, Term Money, Triparty Repo, Market Repo, Repo in Corporate Bond): Notice Money volume is ₹238.70 Crore with a weighted average rate of 5.32% (Range: 5.05-5.50).
* **RBI Operations**
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), & Standing Deposit Facility (SDF) - Today's Operations (December 4, 2025):
* Repo Operation (Variable Rate): ₹72,377.00 Crore at 5.49% (Maturity Date: December 5, 2025).
* Reverse Repo Operation (Variable Rate): ₹810.00 Crore at 5.75% (Maturity Date: December 5, 2025).
* SDFA: ₹1,46,034.00 Crore at 5.25% (Maturity Date: December 5, 2025).
* Net liquidity injected from today's operations: ₹-2,17,601.00 Crore.
* Outstanding Operations:
* Reverse Repo Operation (Variable Rate): ₹56,935.00 Crore at 5.49% (Maturity Date: December 5, 2025; Auction Date: December 1, 2025).
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,278.17 Crore.
* Net liquidity injected from outstanding operations: ₹-48,656.83 Crore.
* Net liquidity injected (outstanding including today's operations): ₹-2,66,257.83 Crore.
* **Reserve Position**
* Cash Reserves Position of Scheduled Commercial Banks (as on December 4, 2025): Cash balances with RBI: ₹7,16,444.14 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 4, 2025: ₹0.00 Crore.
* Net durable liquidity (as on November 14, 2025): ₹3,61,346.00 Crore.
**Impact Analysis**
**Stakeholder: Scheduled Commercial Banks**
* **Impact:** Affected by changes in reserve requirements, liquidity injection/absorption, and interest rates in money market operations.
* **Action Required:** Banks need to manage their liquidity positions in line with the RBI's policies and ensure compliance with reserve requirements. They may need to adjust their lending and borrowing strategies based on the prevailing market conditions.
**Stakeholder: Financial Institutions Participating in Money Markets**
* **Impact:** Directly affected by the interest rates and volumes in overnight and term money market segments.
* **Action Required:** These institutions should monitor the trends and adjust their participation in various money market instruments to optimize their returns and manage risks effectively.
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact:** This document reflects the outcome of the RBI's monetary policy implementation and liquidity management.
* **Action Required:** The RBI needs to continuously monitor market conditions and make adjustments to its operations as necessary to maintain financial stability and achieve its monetary policy objectives.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India; the report details its 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 overnight funds from the RBI.
Standing Deposit Facility (SDF): A monetary policy tool used by RBI to absorb excess liquidity from the banking system.
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 05, 2025
Money Market Operations as on December 04, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,41,845.75 5.30 4.00-6.40
I. Call Money 20,174.68 5.43 4.75-5.55
II. Triparty Repo 4,03,694.65 5.25 5.19-5.35
III. Market Repo 2,13,993.12 5.38 4.00-5.55
IV. Repo in Corporate Bond 3,983.30 5.47 5.40-6.40
B. Term Segment
I. Notice Money** 238.70 5.32 5.05-5.50
II. Term Money@@ 1,320.00 - 5.60-5.90
III. Triparty Repo 390.00 5.35 5.33-5.38
IV. Market Repo 108.78 5.60 5.60-5.60
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 Thu, 04/12/2025 1 Fri, 05/12/2025 72,377.00 5.49
3. MSF# Thu, 04/12/2025 1 Fri, 05/12/2025 810.00 5.75
4. SDFΔ# Thu, 04/12/2025 1 Fri, 05/12/2025 1,46,034.00 5.25
5. Net liquidity injected from today's
-2,17,601.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation 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
-48,656.83
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,66,257.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 04, 2025 7,16,444.14
(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 04, 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: 2025-2026/1632 Deputy General Manager
(Communications)