Money Market Operations as on December 13, 2025

**Executive Summary** This press release from the Reserve Bank of India (RBI), dated December 15, 2025, reports on money market operations as of December 13, 2025. It details volumes, rates, and liquidity adjustments through various instruments like LAF, MSF, and SDF, along with the cash reserve position of scheduled commercial banks. The report contains data on both today's operations and outstanding operations, providing a snapshot of the current liquidity situation. **Key Points / Main Content** * **Money Markets** * Overnight segment volume is reported as 0.00 across call money, triparty repo, market repo, and repo in corporate bonds. * Term segment volume is also reported as 0.00 across notice money, term money, triparty repo, market repo, and repo in corporate bonds. * **RBI Operations** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:** * Fixed Rate operations are not reported. * Variable Rate Repo Operation (Sat, 13/12/2025): Tenor 1 day, Maturity Sun, 14/12/2025: 2,549.00 at 5.50%. * Variable Rate Reverse Repo Operation (Sat, 13/12/2025): Tenor 2 days, Maturity Mon, 15/12/2025: 160.00 at 5.50%. * MSF (Sat, 13/12/2025): Tenor 1 day, Maturity Sun, 14/12/2025: 1,69,149.00 at 5.00%. * SDF (Sat, 13/12/2025): Tenor 2 days, Maturity Mon, 15/12/2025: 0.00 at 5.00%. * Net liquidity injected from today's operations: -1,66,440.00. * **Outstanding Operations:** * Fixed Rate operations are not reported. * Variable Rate Repo Operation (Fri, 12/12/2025): Tenor 3 days, Maturity Sun, 14/12/2025: 0.00 at 5.50%. * Variable Rate Reverse Repo Operation (Fri, 12/12/2025): Tenor 2 days, Maturity Mon, 15/12/2025: 843.00 at 5.50%. * MSF (Fri, 12/12/2025): Tenor 2 days, Maturity Sun, 14/12/2025: 45.00 at 5.00%. * SDF (Fri, 12/12/2025): Tenor 3 days, Maturity Mon, 15/12/2025: 28,347.00 at 5.00%. * Standing Liquidity Facility (SLF) Availed from RBI: 8,974.81. * Net liquidity injected from outstanding operations: -18,574.19. * Net liquidity injected (outstanding including today's operations): -1,85,014.19. * **Reserve Position** * Cash Reserves Position of Scheduled Commercial Banks: * Cash balances with RBI as on December 13, 2025: 7,54,100.36. * Cash reserve requirement for December 13-15, 2025: 7,45,778.00. * Government of India Surplus Cash Balance Reckoned for Auction as on December 12, 2025: 0.00. * Net durable liquidity surplus as on November 28, 2025: 2,60,359.00. **Impact Analysis** * **Scheduled Commercial Banks** * **Impact**: Banks' liquidity positions are affected by the RBI's operations, which directly impact their ability to manage cash reserves and meet regulatory requirements. The cash reserve positions and the outcomes of LAF, MSF, and SDF operations influence their short-term financial planning. * **Action Required**: Banks must monitor the outcomes of the RBI's operations to effectively manage their liquidity positions, ensuring compliance with reserve requirements and optimizing their participation in money market activities. * **Financial Institutions** * **Impact**: These institutions are affected by the interest rate environment and liquidity conditions, as these influence the overall cost of funds and investment opportunities in the money market. * **Action Required**: Continuously monitor trends to respond to money market conditions. * **Reserve Bank of India (RBI)** * **Impact**: The RBI's role as the regulator and liquidity manager is central to the money market. The data provided reflects the effectiveness of the RBI's monetary policy tools in managing liquidity and interest rates. * **Action Required**: The RBI will analyze the data to refine its open market operations and monetary policy strategies, ensuring financial stability and achieving macroeconomic objectives.

Key Entities Referenced