**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated December 15, 2025, provides details on the money market operations conducted as of December 14, 2025. It covers overnight and term segments, RBI operations including liquidity adjustment facilities, and the cash reserve position of scheduled commercial banks. The document also specifies auction dates, maturity dates, amounts, and current rates for various financial instruments.
**Key Points / Main Content**
* **Money Market Operations (as on December 14, 2025)**
* **Overnight Segment:** Volumes are 0.00 for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:** Volumes are 0.00 for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) Today's Operations:**
* Repo Operation: ₹2,868.00 crore at 5.50% on Dec 14, 2025, maturing Dec 15, 2025.
* Reverse Repo Operation: ₹1,67,254.00 crore at 5.00% on Dec 14, 2025, maturing Dec 15, 2025.
* **Outstanding Operations:**
* MSF: ₹160.00 crore at 5.50% on Dec 13, 2025, maturing Dec 15, 2025 and ₹843.00 crore at 5.50% on Dec 12, 2025, maturing Dec 15, 2025.
* SDF: ₹0.00 crore at 5.00% on Dec 13, 2025, maturing Dec 15, 2025 and ₹28,347.00 crore at 5.00% on Dec 12, 2025, maturing Dec 15, 2025.
* Net liquidity injected from today's operations [injection (+)/absorption (-)]*: -₹1,64,386.00 crore
* Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*: ₹8,974.81 crore
* Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]*: -₹1,82,755.19 crore
* **Reserve Position of Scheduled Commercial Banks**
* Cash balances with RBI as on December 14, 2025: ₹7,54,248.11 crore
* Cash reserve requirement for December 13-15, 2025: ₹7,45,778.00 crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** The document outlines the liquidity conditions and reserve requirements, impacting banks' liquidity management and compliance.
* **Action Required:** Banks must maintain required cash reserves with RBI and manage their liquidity positions in line with the outlined money market operations.
**RBI**
* **Impact:** The document is a record of its monetary policy implementation through various liquidity management tools.
* **Action Required:** Continue monitoring and adjusting money market operations as needed to achieve monetary policy goals.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for regulating the country's monetary policy.
Liquidity Adjustment Facility (LAF): A tool used by RBI to manage liquidity in the banking system through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI at a higher interest rate when facing liquidity shortages.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
Standing Liquidity Facility (SLF): Facility availed from 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 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)