Money Market Operations as on December 28, 2025

**Executive Summary** This press release, dated December 29, 2025, from the Reserve Bank of India (RBI) provides details on money market operations as of December 28, 2025. It covers various segments including overnight, term, and RBI operations such as 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 (I+II+III+IV):** Volume of 0.00 for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond. * **Term Segment:** Volume of 0.00 for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond. * **RBI Operations** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** * Today's Operations * MSF: Auction date Sun, 28/12/2025, Tenor 1 Day, Maturity Mon, 29/12/2025, Amount 277.00 Crore, Current Rate/Cut off Rate 5.50%. * SDFA: Auction date Sun, 28/12/2025, Tenor 1 Day, Maturity Mon, 29/12/2025, Amount 1,32,680.00 Crore, Current Rate/Cut off Rate 5.00%. * Net liquidity injected from today's operations [injection (+)/absorption (-)]: -1,32,403.00 Crore. * Outstanding Operations * Repo Operation: Auction date Fri, 26/12/2025, Tenor 4 Days, Maturity Tue, 30/12/2025, Amount 1,75,021.00 Crore, Rate 5.26%. * Reverse Repo Operation: Auction date Fri, 26/12/2025, Tenor 4 Days, Maturity Tue, 30/12/2025, Amount 28,007.00 Crore, Rate 5.26%. * MSF: Auction date Sat, 27/12/2025, Tenor 2 Days, Maturity Mon, 29/12/2025, Amount 0.00 Crore, Rate 5.50%. * MSF: Auction date Fri, 26/12/2025, Tenor 3 Days, Maturity Mon, 29/12/2025, Amount 357.00 Crore, Rate 5.50%. * SDFA: Auction date Sat, 27/12/2025, Tenor 2 Days, Maturity Mon, 29/12/2025, Amount 79.00 Crore, Rate 5.00%. * SDFA: Auction date Fri, 26/12/2025, Tenor 3 Days, Maturity Mon, 29/12/2025, Amount 19,392.00 Crore, Rate 5.00%. * **Standing Liquidity Facility (SLF) Availed from RBI:** 10,790.77 Crore. * **Net liquidity injected from outstanding operations [injection (+)/absorption (-)]:** 1,94,704.77 Crore. * **Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]:** 62,301.77 Crore. * **Reserve Position** * **Cash Reserves Position of Scheduled Commercial Banks:** * Cash balances with RBI as on December 28, 2025: 7,28,307.75 Crore. * Average daily cash reserve requirement for the fortnight ending December 31, 2025: 7,45,778.00 Crore. * **Government of India Surplus Cash Balance Reckoned for Auction as on December 26, 2025:** 2,03,028.00 Crore. * **Net durable liquidity [surplus (+)/deficit (-)] as on November 28, 2025:** 2,60,359.00 Crore. **Impact Analysis** **Scheduled Commercial Banks** * **Impact:** The scheduled commercial banks are affected by the reported cash reserve positions, liquidity conditions, and the terms of various RBI operations such as LAF, MSF, and SDF. * **Action Required:** Banks need to manage their liquidity positions in accordance with the reported data and comply with the cash reserve requirements set by the RBI. **Government of India** * **Impact:** The Government of India is impacted by the reported Surplus Cash Balance data. * **Action Required:** There is no action listed for the Government of India. **Financial Markets Participants** * **Impact:** Participants are impacted by the overnight segment, term segment and, repo rates. * **Action Required:** There is no action listed for financial market participants.

Key Entities Referenced