**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated December 16, 2025, presents the money market operations as of December 15, 2025. It details the volumes, weighted average rates, and ranges for various money market segments, RBI operations, and reserve positions. It covers liquidity adjustment facilities and standing facilities.
**Key Points / Main Content**
* **Money Market Operations (as of 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%). Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:** Total volume of ₹7,850.47 Crore, Includes 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% with a maturity date of December 26, 2025.
* **Variable Rate Reverse Repo Operation:** ₹2,694.00 Crore at 5.50% with a maturity date of December 16, 2025.
* **SDFA:** ₹1,56,385.00 Crore at 5.00% with a maturity date of December 16, 2025
* **Net liquidity injected from today's operations:** Absorption of ₹1,28,722.00 Crore.
* **RBI Operations (Outstanding Operations):**
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹8,266.31 Crore.
* **Net liquidity injected from outstanding operations:** Injection of ₹8,266.31 Crore.
* **Net liquidity injected (outstanding including today's operations):** Absorption of ₹1,20,455.69 Crore.
* **Reserve Positions (as of December 15, 2025):**
* **Cash balances with RBI:** ₹7,53,206.91 Crore.
* **Cash reserve requirement:** ₹7,45,778.00 Crore (for the period December 13-15, 2025).
* **Government of India Surplus Cash Balance Reckoned for Auction:** ₹24,969.00 Crore
* **Net durable liquidity:** ₹2,60,359.00 Crore (as on November 28, 2025).
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Directly affected by the changes in repo rates and liquidity conditions, influencing their lending and borrowing activities.
* **Action Required:** Need to adjust their strategies based on the RBI's operations to manage their cash reserves and liquidity positions effectively.
Key Entities Referenced
Reserve Bank of India: Central bank of India, responsible for regulating the money market.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight from the RBI.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb liquidity from the banking system without collateral.
Repo Operation: Repurchase agreement by which the RBI lends money to commercial banks.
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)