**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated December 26, 2025, providing details on money market operations as of December 24, 2025. It includes information on liquidity adjustment facilities, marginal standing facilities, standing deposit facilities, and cash reserve positions. No immediate deadlines or specific action items are mentioned.
**Key Points / Main Content**
* **Money Markets:**
* Overnight segment volume is ₹7,04,987.48 crore with a weighted average rate of 5.34% (range: 2.00-6.45%).
* Volumes and weighted average rates are provided for call money, triparty repo, market repo, and repo in corporate bonds within the overnight segment.
* Term segment volumes and weighted average rates are listed for notice money, term money, triparty repo, market repo, and repo in corporate bond.
* **RBI Operations (Today's Operations):**
* Details of the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF) are given.
* Variable rate repo operations on Wed, 24/12/2025 had a volume of ₹87,347.00 crore at 5.26% with maturity date Fri, 26/12/2025.
* MSF operations on Wed, 24/12/2025 had a volume of ₹338.00 crore (1 day) and ₹358.00 crore (2 days) at 5.50% with maturity dates Thu, 25/12/2025 and Fri, 26/12/2025 respectively.
* SDFA operations on Wed, 24/12/2025 had a volume of ₹1,16,314.00 crore (1 day) and ₹3,803.00 crore (2 days) at 5.00% with maturity dates Thu, 25/12/2025 and Fri, 26/12/2025 respectively.
* Net liquidity injected from today's operations (injection (+)/absorption (-)) is -₹32,074.00 crore.
* **RBI Operations (Outstanding Operations):**
* Variable rate repo operations outstanding from Tue, 16/12/2025 amount to ₹77,379.00 crore at 5.26% with maturity date Fri, 26/12/2025.
* Variable rate repo operations outstanding from Mon, 15/12/2025 amount to ₹24,969.00 crore at 5.26% with maturity date Fri, 26/12/2025.
* Standing Liquidity Facility (SLF) availed from RBI is ₹10,790.77 crore.
* Net liquidity injected from outstanding operations (injection (+)/absorption (-)) is ₹1,13,138.77 crore.
* Net liquidity injected (outstanding including today's operations) (injection (+)/absorption (-)) is ₹81,064.77 crore.
* **Reserve Position:**
* Cash balances of scheduled commercial banks with RBI as on December 24, 2025, were ₹7,37,985.65 crore.
* Average daily cash reserve requirement for the fortnight ending December 31, 2025, is ₹7,45,778.00 crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on December 24, 2025, is ₹87,347.00 crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on November 28, 2025, is ₹2,60,359.00 crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** The report provides critical data on liquidity conditions, interest rates, and reserve requirements that impact banks' financial planning and operations.
* **Action Required:** Banks need to review their liquidity management strategies and adjust their operations based on the reported rates, volumes, and reserve requirements to optimize their financial performance and ensure compliance.
**Government of India**
* **Impact:** The document informs the government about the surplus cash balance available for auction, aiding in its financial planning.
* **Action Required:** The government should consider the reported surplus cash balance when planning auctions and managing its overall financial position.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, regulates money markets.
Liquidity Adjustment Facility (LAF): Tool used by RBI to manage liquidity in the banking system.
Marginal Standing Facility (MSF): Facility through which banks can borrow overnight funds from RBI.
Standing Deposit Facility (SDF): Facility allowing banks to deposit surplus liquidity with the RBI.
Money Market Operations: RBI's activities in the money market to manage liquidity and interest rates.
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 26, 2025
Money Market Operations as on December 24, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 7,04,987.48 5.34 2.00-6.45
I. Call Money 17,445.39 5.47 4.50-5.57
II. Triparty Repo 4,75,553.65 5.31 5.20-5.51
III. Market Repo 2,08,589.84 5.38 2.00-5.71
IV. Repo in Corporate Bond 3,398.60 5.50 5.40-6.45
B. Term Segment
I. Notice Money** 133.46 5.33 4.60-5.50
II. Term Money@@ 156.00 - 5.60-5.90
III. Triparty Repo 4,499.85 5.60 5.30-5.90
IV. Market Repo 68.80 5.55 5.55-5.55
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 Wed, 24/12/2025 2 Fri, 26/12/2025 87,347.00 5.26
(b) Reverse Repo Operation
3. MSF# Wed, 24/12/2025 1 Thu, 25/12/2025 338.00 5.50
Wed, 24/12/2025 2 Fri, 26/12/2025 358.00 5.50
4. SDFΔ# Wed, 24/12/2025 1 Thu, 25/12/2025 1,16,314.00 5.00
Wed, 24/12/2025 2 Fri, 26/12/2025 3,803.00 5.00
5. Net liquidity injected from today's
-32,074.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Tue, 16/12/2025 10 Fri, 26/12/2025 77,379.00 5.26
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$ 10,790.77
E. Net liquidity injected from outstanding operations [injection
1,13,138.77
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
81,064.77
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 24, 2025 7,37,985.65
(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 24, 2025 87,347.00
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: 2025-2026/1771 Deputy General Manager
(Communications)