**Executive Summary**
This is a press release from the Reserve Bank of India (RBI), dated December 15, 2025, summarizing the money market operations and reserve positions as of December 14, 2025. It includes details on overnight and term segment transactions, RBI operations, and cash reserve positions of scheduled commercial banks. The document specifies amounts in Crore and rates in percentages.
**Key Points / Main Content**
*Money Markets Operations (December 14, 2025)*
* **Overnight Segment:** Call money, Triparty Repo, Market Repo, and Repo in Corporate Bond each have a volume of 0.00.
* **Term Segment:** Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond each have a volume of 0.00.
*RBI Operations*
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), & Standing Deposit Facility (SDF) - Today's Operations:**
* MSF: Auction Date: Sun, 14/12/2025, Tenor: 1 day, Maturity Date: Mon, 15/12/2025, Amount: 2,868.00, Current Rate: 5.50
* SDFA: Auction Date: Sun, 14/12/2025, Tenor: 1 day, Maturity Date: Mon, 15/12/2025, Amount: 1,67,254.00, Current Rate: 5.00
* Net liquidity injected from today's operations [injection (+)/absorption (-)]: -1,64,386.00.
* **Outstanding Operations:**
* MSF: Auction Date: Sat, 13/12/2025 and Fri, 12/12/2025, Tenor: 2, 3 days respectively, Maturity Date: Mon, 15/12/2025, Amount: 160.00, 843.00, Current Rate: 5.50
* SDFA: Auction Date: Sat, 13/12/2025 and Fri, 12/12/2025, Tenor: 2, 3 days respectively, Maturity Date: Mon, 15/12/2025, Amount: 0.00, 28,347.00 Current Rate: 5.00.
* Net liquidity injected from outstanding operations [injection (+)/absorption (-)]: 8,974.81.
* Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]: -1,82,755.19.
* Standing Liquidity Facility (SLF) Availed from RBI$: -18,369.19
*Reserve Position*
* Cash balances with RBI as on December 14, 2025: 7,54,248.11.
* 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 (+)/deficit (-)] as on November 28, 2025: 2,60,359.00.
**Impact Analysis**
* **Scheduled Commercial Banks**
**Impact:** Affected by the cash reserve requirements and the RBI's liquidity management operations, which influence the availability and cost of funds.
**Action Required:** Banks need to monitor their cash balances with RBI to meet reserve requirements, and adjust their operations based on the rates and amounts specified by RBI.
* **Money Market Participants**
**Impact:** Impacted by the rates and volumes in the overnight and term money markets, as well as the RBI's liquidity injections and absorptions.
**Action Required:** Participants need to adjust their trading and investment strategies based on these money market conditions and RBI actions.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI.
Standing Deposit Facility (SDF): A tool for absorbing excess liquidity from the banking system.
Money Market Operations: The report provides details of money market operations conducted.
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 15, 2025
Money Market Operations as on December 14, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
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# Sun, 14/12/2025 1 Mon, 15/12/2025 2,868.00 5.50
4. SDFΔ# Sun, 14/12/2025 1 Mon, 15/12/2025 1,67,254.00 5.00
5. Net liquidity injected from today's
-1,64,386.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF# Sat, 13/12/2025 2 Mon, 15/12/2025 160.00 5.50
Fri, 12/12/2025 3 Mon, 15/12/2025 843.00 5.50
4. SDFΔ# Sat, 13/12/2025 2 Mon, 15/12/2025 0.00 5.00
Fri, 12/12/2025 3 Mon, 15/12/2025 28,347.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,974.81
E. Net liquidity injected from outstanding operations [injection
-18,369.19
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,82,755.19
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 14, 2025 7,54,248.11
(ii) Cash reserve requirement for^ December 13-15, 2025 7,45,778.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ December 12, 2025 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on November 28, 2025 2,60,359.00
@ 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.
^ As per the notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025.
Ajit Prasad
Press Release: 2025-2026/1701 Deputy General Manager
(Communications)