**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated December 16, 2025, reports on money market operations as of December 15, 2025. It details volumes, weighted average rates, and ranges for overnight and term segments, as well as RBI operations related to liquidity adjustment facilities. It also presents the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (December 15, 2025)**
* **Overnight Segment:** Total volume of ₹6,71,225.92 crore with a weighted average rate of 5.12% (range 1.00-5.60%).
* **Term Segment:** Volume reported for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Today's Operations):**
* Fixed Rate Repo Operation: ₹24,969.00 crore at 5.26% maturity date 26/12/2025.
* Variable Rate Reverse Repo Operation: ₹2,694.00 crore at 5.50%, maturity date 16/12/2025.
* Standing Deposit Facility (SDF): ₹1,56,385.00 crore at 5.00% maturity date 16/12/2025.
* **RBI Operations (Outstanding Operations)**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,266.31 crore.
* Net Liquidity injected from outstanding operations: ₹8,266.31 crore.
* **Reserve Position:**
* Cash balances with RBI as on December 15, 2025: ₹7,53,206.91 crore.
* Cash reserve requirement for December 13-15, 2025: ₹7,45,778.00 crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on December 15, 2025: ₹24,969.00 crore.
* Net durable liquidity: ₹2,60,359.00 crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact**: Affected by the liquidity conditions managed through the various instruments described in the report, influencing their reserve requirements and access to funds.
* **Action Required**: Banks must adjust their strategies for managing liquidity and meeting reserve requirements based on the prevailing conditions and rates.
**The Government of India**
* **Impact**: Government is impacted as the surplus cash balances are reckoned for auction.
* **Action Required**: Monitor the net liquidity position and coordinate with RBI on liquidity management.
**Financial Markets Participants**
* **Impact**: Market participants are impacted by the information on money market operations and reserve positions.
* **Action Required**: Use the information to make informed decisions about investments, lending, and borrowing strategies.
Key Entities Referenced
Reserve Bank of India: India's central bank, responsible for regulating the country's monetary policy.
Liquidity Adjustment Facility (LAF): A monetary policy instrument used by RBI to inject or absorb liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their excess statutory liquidity ratio (SLR) securities.
Standing Deposit Facility (SDF): A monetary policy instrument used by RBI to absorb liquidity from the banking system without any collateral.
Scheduled Commercial Banks: Banks included in the Second Schedule of the Reserve Bank of India Act, 1934.
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 16, 2025
Money Market Operations as on December 15, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,71,225.92 5.12 1.00-5.60
I. Call Money 22,923.06 5.25 4.50-5.40
II. Triparty Repo 4,39,057.70 5.09 4.97-5.60
III. Market Repo 2,06,657.86 5.16 1.00-5.40
IV. Repo in Corporate Bond 2,587.30 5.30 5.21-5.50
B. Term Segment
I. Notice Money** 466.30 5.20 4.85-5.25
II. Term Money@@ 1,126.00 - 5.55-6.45
III. Triparty Repo 5,505.80 5.30 5.05-5.45
IV. Market Repo 752.37 5.43 5.25-5.44
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 Mon, 15/12/2025 11 Fri, 26/12/2025 24,969.00 5.26
(b) Reverse Repo Operation
3. MSF# Mon, 15/12/2025 1 Tue, 16/12/2025 2,694.00 5.50
4. SDFΔ# Mon, 15/12/2025 1 Tue, 16/12/2025 1,56,385.00 5.00
5. Net liquidity injected from today's
-1,28,722.00
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$ 8,266.31
E. Net liquidity injected from outstanding operations [injection
8,266.31
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,20,455.69
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 15, 2025 7,53,206.91
(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 15, 2025 24,969.00
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: 2025-2026/1707 Deputy General Manager
(Communications)