**Executive Summary**
This press release from the Reserve Bank of India, dated December 17, 2025, details the money market operations as of December 16, 2025. It covers overnight and term segments, RBI operations including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also includes information on the cash reserve position of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets**
* **Overnight Segment:** Total volume is ₹6,82,778.62 crore with a weighted average rate of 5.33% (range: 0.01-6.50%). This includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Total volume is ₹720.88 crore with a weighted average rate of 5.57% (range: 4.95-5.70%). This includes 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):** Describes today's operations.
* **Repo Operation:** ₹49,791.00 crore at 5.26% maturity date 18/12/2025.
* **Reverse Repo Operation:** ₹77,379.00 crore at 5.26% maturity date 26/12/2025.
* **MSF:** ₹5,418.00 crore at 5.50% maturity date 17/12/2025.
* **SDFA:** ₹1,05,016.00 crore at 5.00% maturity date 17/12/2025.
* **Outstanding Operations:** Describes operations.
* **Repo Operation:** ₹24,969.00 crore at 5.26% maturity date 26/12/2025.
* **Net liquidity:** Net liquidity injected from today's operations [injection (+)/absorption (-)] is ₹27,572.00 crore. Net liquidity injected from outstanding operations [injection (+)/absorption (-)] is ₹33,215.81 crore. Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)] is ₹60,787.81 crore.
* **Reserve Position**
* **Cash Reserves of Scheduled Commercial Banks:**
* Cash balances with RBI as on December 16, 2025: ₹7,49,701.93 crore.
* Average daily cash reserve requirement for the fortnight ending December 31, 2025: ₹7,45,778.00 crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Need to manage their cash reserves to meet the average daily cash reserve requirement and understand the liquidity conditions in the market based on RBI's operations.
* **Action Required:** Ensure compliance with cash reserve requirements and factor in the rates and amounts in the LAF, MSF, and SDF operations for their liquidity management.
**Money Market Participants (e.g., Corporates, Financial Institutions)**
* **Impact:** Understanding the rates and volumes in various money market segments helps in informed decision-making regarding short-term investments and borrowing.
* **Action Required:** Monitor the trends in overnight and term segments to optimize their funding and investment strategies.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the money supply and credit system.
Liquidity Adjustment Facility (LAF): A tool used by the 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 funds overnight from the RBI against their SLR portfolio.
Standing Deposit Facility (SDF): A tool allowing the RBI to absorb liquidity from the banking system without any collateral.
Repo Operation: A tool used by the RBI to inject liquidity in the banking system through repo operations.
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 17, 2025
Money Market Operations as on December 16, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,82,778.62 5.33 0.01-6.50
I. Call Money 22,735.79 5.41 4.50-5.70
II. Triparty Repo 4,46,366.65 5.32 5.15-5.60
III. Market Repo 2,11,013.88 5.36 0.01-6.00
IV. Repo in Corporate Bond 2,662.30 5.41 5.35-6.50
B. Term Segment
I. Notice Money** 720.88 5.57 4.95-5.70
II. Term Money@@ 943.50 - 5.45-5.85
III. Triparty Repo 1,825.00 5.38 5.27-5.45
IV. Market Repo 384.73 5.05 4.90-5.65
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 Tue, 16/12/2025 2 Thu, 18/12/2025 49,791.00 5.26
Tue, 16/12/2025 10 Fri, 26/12/2025 77,379.00 5.26
(b) Reverse Repo Operation
3. MSF# Tue, 16/12/2025 1 Wed, 17/12/2025 5,418.00 5.50
4. SDFΔ# Tue, 16/12/2025 1 Wed, 17/12/2025 1,05,016.00 5.00
5. Net liquidity injected from today's
27,572.00
operations [injection (+)/absorption (-)]*
II Outstanding 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#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,246.81
E. Net liquidity injected from outstanding operations [injection
33,215.81
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
60,787.81
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 16, 2025 7,49,701.93
(ii) Average daily cash reserve requirement for the fortnight ending^ December 31, 2025 7,45,778.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ December 16, 2025 1,27,170.00
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: 2025-2026/1716 Deputy General Manager
(Communications)