**Executive Summary**
This press release from the Reserve Bank of India, dated December 29, 2025, reports on the money market operations as of December 26, 2025. It details the volumes and rates of various money market instruments and RBI operations, including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also includes data on cash reserves of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets**
* **Overnight Segment:** Total volume is ₹6,74,669.98 Crore, with a weighted average rate of 5.30% and a range of 1.00-6.45%.
* Call Money: ₹19,903.06 Crore, average rate of 5.46%.
* Triparty Repo: ₹4,57,698.45 Crore, average rate of 5.25%.
* Market Repo: ₹1,93,728.87 Crore, average rate of 5.40%.
* Repo in Corporate Bond: ₹3,339.60 Crore, average rate of 5.56%.
* **Term Segment:**
* Notice Money: ₹243.90 Crore, average rate of 5.49%.
* Term Money: ₹713.50 Crore, rate range of 5.50-6.00%.
* Triparty Repo: ₹2,615.00 Crore, average rate of 5.15%.
* Market Repo: ₹0.00 Crore.
* Repo in Corporate Bond: ₹240.00 Crore, average rate of 7.75%.
* **RBI Operations - Today's Operations (December 26, 2025):**
* **Variable Rate Repo Operation:** ₹1,75,021.00 Crore for 4 days, maturing on December 30, 2025, at 5.26%.
* **Variable Rate Reverse Repo Operation:** ₹28,007.00 Crore for 4 days, maturing on December 30, 2025, at 5.26%.
* **MSF:** ₹147.00 Crore for 1 day, maturing on December 27, 2025, at 5.50%; ₹0.00 Crore for 2 days, maturing on December 28, 2025, at 5.50%; and ₹357.00 Crore for 3 days, maturing on December 29, 2025, at 5.50%.
* **SDF:** ₹1,32,047.00 Crore for 1 day, maturing on December 27, 2025, at 5.00%; ₹210.00 Crore for 2 days, maturing on December 28, 2025, at 5.00%; and ₹19,392.00 Crore for 3 days, maturing on December 29, 2025, at 5.00%.
* **Net Liquidity Injection:** ₹51,883.00 Crore injected today.
* **RBI Operations - Outstanding Operations:**
* **Standing Liquidity Facility (SLF):** ₹10,790.77 Crore availed from RBI.
* **Net Liquidity Injection (Outstanding):** ₹10,790.77 Crore.
* **Net Liquidity Injection (Total):** ₹62,673.77 Crore.
* **Reserve Position (Cash Reserves of Scheduled Commercial Banks):**
* Cash balances with RBI as on December 26, 2025: ₹7,28,880.11 Crore.
* Average daily cash reserve requirement for the fortnight ending December 31, 2025: ₹7,45,778.00 Crore.
* **Government of India Surplus Cash Balance:**
* Surplus cash balance reckoned for auction as on December 26, 2025: ₹2,03,028.00 Crore.
* **Net Durable Liquidity:**
* Net durable liquidity as on November 28, 2025: ₹2,60,359.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks are directly affected by the reported money market rates and liquidity conditions, influencing their borrowing and lending strategies. They also need to maintain the required cash balances with the RBI.
* **Action Required:** Scheduled Commercial Banks must review their liquidity positions and adjust their strategies based on the reported rates and liquidity conditions. Banks also need to maintain their average daily cash reserve requirement for the specified fortnight.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India responsible for monetary policy.
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.
Standing Deposit Facility (SDF): A tool to absorb liquidity from the commercial banks.
Money Market Operations: Transactions to influence short-term interest rates and liquidity.
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 29, 2025
Money Market Operations as on December 26, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,74,669.98 5.30 1.00-6.45
I. Call Money 19,903.06 5.46 4.60-5.57
II. Triparty Repo 4,57,698.45 5.25 4.95-5.50
III. Market Repo 1,93,728.87 5.40 1.00-5.75
IV. Repo in Corporate Bond 3,339.60 5.56 5.40-6.45
B. Term Segment
I. Notice Money** 243.90 5.49 4.60-5.55
II. Term Money@@ 713.50 - 5.50-6.00
III. Triparty Repo 2,615.00 5.15 5.00-5.55
IV. Market Repo 0.00 - -
V. Repo in Corporate Bond 240.00 7.75 7.75-7.75
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 Fri, 26/12/2025 4 Tue, 30/12/2025 1,75,021.00 5.26
Fri, 26/12/2025 4 Tue, 30/12/2025 28,007.00 5.26
(b) Reverse Repo Operation
3. MSF# Fri, 26/12/2025 1 Sat, 27/12/2025 147.00 5.50
Fri, 26/12/2025 2 Sun, 28/12/2025 0.00 5.50
Mon,
Fri, 26/12/2025 3 357.00
29/12/2025 5.50
4. SDFΔ# Fri, 26/12/2025 1 Sat, 27/12/2025 1,32,047.00 5.00
Fri, 26/12/2025 2 Sun, 28/12/2025 210.00 5.00
Mon,
Fri, 26/12/2025 3 19,392.00
29/12/2025 5.00
5. Net liquidity injected from today's
51,883.00
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$ 10,790.77
E. Net liquidity injected from outstanding operations [injection
10,790.77
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
62,673.77
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 26, 2025 7,28,880.11
(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 26, 2025 2,03,028.00
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: 2025-2026/1782 Deputy General Manager
(Communications)