**Executive Summary**
This press release from the Reserve Bank of India, dated December 9, 2025, details the money market operations as of December 8, 2025. It covers various segments of the money market, RBI operations, and the cash reserve position of scheduled commercial banks. The report includes data on volumes, weighted average rates, and ranges for different money market instruments.
**Key Points / Main Content**
* **Money Markets:**
* Overnight Segment: Total volume ₹6,77,380.37 Crore, weighted average rate 5.11%, range 4.50-6.20%. Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* Term Segment: Includes Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Today's Operations - December 8, 2025):**
* Variable Rate Reverse Repo Operation: ₹1,61,952.00 Crore at 5.00% rate.
* Variable Rate Repo Operation: ₹2,586.00 Crore at 5.50% rate.
* Net Liquidity Injected: -₹1,59,366.00 Crore (absorption).
* **RBI Operations (Outstanding Operations):**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,008.17 Crore.
* Net Liquidity Injected: ₹8,008.17 Crore.
* Net Liquidity (outstanding including today's operations): -₹1,51,357.83 Crore (absorption).
* **Reserve Position (December 8, 2025):**
* Cash Balances with RBI: ₹7,18,530.94 Crore.
* Average Daily Cash Reserve Requirement (ending December 12, 2025): ₹7,39,862.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction: ₹0.00 Crore.
* Net Durable Liquidity (November 14, 2025): ₹3,61,346.00 Crore.
**Impact Analysis**
* **Scheduled Commercial Banks**
* **Impact**: The data impacts banks' liquidity management, influencing their overnight and term lending/borrowing strategies. The cash reserve requirements also directly affect their deployable funds.
* **Action Required**: Monitor and adjust their liquidity positions based on the RBI's operations and reported data to comply with regulatory requirements and optimize their financial performance.
* **Money Market Participants (including financial institutions and corporates)**
* **Impact**: These entities are directly affected by the rates and volumes in various segments of the money market. The data helps them in pricing their short-term funding and investment decisions.
* **Action Required**: Analyze the trends in money market rates and volumes to make informed decisions regarding their participation in call money, repo, and other money market instruments.
* **Reserve Bank of India (RBI)**
* **Impact**: The report provides insight into the effectiveness of the RBI's monetary policy operations, particularly liquidity management through LAF, MSF, and SDF.
* **Action Required**: Assess the impact of its operations on market liquidity and adjust its strategies to maintain stability and achieve its policy objectives.
Key Entities Referenced
Reserve Bank of India: India's central bank, responsible for monetary policy and market regulation, and directly involved in the operations described.
Liquidity Adjustment Facility (LAF): A primary tool used by the RBI to manage liquidity in the banking system, involving repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility where banks can borrow overnight funds from the RBI against government securities.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the banking system without requiring collateral.
Money Markets: The overall market being analyzed, including call money, triparty repo, and repo in corporate bond.
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 09, 2025
Money Market Operations as on December 08, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,77,380.37 5.11 4.50-6.20
I. Call Money 19,226.72 5.19 4.50-5.30
II. Triparty Repo 4,35,729.30 5.08 4.97-5.20
III. Market Repo 2,17,829.05 5.16 4.51-5.90
IV. Repo in Corporate Bond 4,595.30 5.33 5.26-6.20
B. Term Segment
I. Notice Money** 640.70 5.20 4.80-5.25
II. Term Money@@ 326.00 - 5.30-5.85
III. Triparty Repo 215.00 5.12 5.00-5.15
IV. Market Repo 534.92 5.35 5.35-5.35
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# Mon, 08/12/2025 1 Tue, 09/12/2025 2,586.00 5.50
4. SDFΔ# Mon, 08/12/2025 1 Tue, 09/12/2025 1,61,952.00 5.00
5. Net liquidity injected from today's
-1,59,366.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,008.17
E. Net liquidity injected from outstanding operations [injection
8,008.17
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,51,357.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 08, 2025 7,18,530.94
(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 08, 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: 2025-2026/1663 Deputy General Manager
(Communications)