**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) detailing money market operations as of December 31, 2025. It provides data on overnight and term segment transactions, RBI operations including liquidity adjustment facilities, standing liquidity facilities, and reserve positions of scheduled commercial banks. It also specifies net liquidity injected/absorbed through various operations.
**Key Points / Main Content**
* **Money Market Operations (as on December 31, 2025)**
* **Overnight Segment:** Total volume of ₹5,90,001.24 Crore, with a weighted average rate of 5.42% (range: 2.00-6.25%).
* Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:** Volume of ₹12,373.9 Crore, with a weighted average rate of 5.81% for Triparty Repo (range: 5.25-6.25%).
* Includes 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 (Wed, 31/12/2025):**
* Repo Operation: ₹30,770.00 Crore at 5.26%
* Reverse Repo Operation: ₹1,936.00 Crore at 5.50%
* SDF: ₹2,04,547.00 Crore at 5.00%
* **Net Liquidity Injected:** ₹-1,71,841.00 Crore from today's operations.
* **Outstanding Operations (Tue, 30/12/2025):**
* Repo Operation: ₹1,43,718.00 Crore at 5.26%
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹10,787.70 Crore.
* **Net liquidity injected from outstanding operations:** ₹1,54,505.70 Crore.
* **Net liquidity injected (outstanding including today's operations):** ₹-17,335.30 Crore.
* **Reserve Position of Scheduled Commercial Banks**
* Cash balances with RBI as on December 31, 2025: ₹7,18,892.57 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 31, 2025: ₹30,770.00 Crore.
* Net durable liquidity (surplus (+)/deficit (-)] as on December 12, 2025: ₹3,25,160.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** The document provides insights into the liquidity in the market and the interest rates at which funds are being transacted, which can influence their treasury operations, lending rates, and overall financial planning. Banks need to maintain adequate cash reserves with the RBI and may use LAF, MSF, and SDF to manage their liquidity positions.
* **Action Required:** Banks should review their current and projected liquidity positions in light of the reported market operations data. They should also adjust their strategies for managing their cash reserve requirements.
**RBI**
* **Impact:** The document reflects the central bank's monetary policy implementation and liquidity management efforts. The data on LAF, MSF, SDF, and SLF reveal the extent of RBI's intervention in the money market.
* **Action Required:** To monitor and analyse the impact of money market operations on the stability of the financial system.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for monetary policy and financial system regulation.
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 excess SLR securities.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
Money Markets: Markets for short-term debt instruments.
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
January 01, 2026
Money Market Operations as on December 31, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 5,90,001.24 5.42 2.00-6.25
I. Call Money 9,658.66 5.56 4.60-5.75
II. Triparty Repo 3,94,577.20 5.33 5.00-5.51
III. Market Repo 1,82,281.78 5.60 2.00-6.25
IV. Repo in Corporate Bond 3,483.60 5.65 5.59-6.10
B. Term Segment
I. Notice Money** 194.25 5.30 4.85-5.50
II. Term Money@@ 203.00 - 5.70-6.50
III. Triparty Repo 11,976.65 5.81 5.25-6.25
IV. Market Repo 0.00 - -
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, 31/12/2025 1 Thu, 01/01/2026 30,770.00 5.26
(b) Reverse Repo Operation
3. MSF# Wed, 31/12/2025 1 Thu, 01/01/2026 1,936.00 5.50
4. SDFΔ# Wed, 31/12/2025 1 Thu, 01/01/2026 2,04,547.00 5.00
5. Net liquidity injected from today's
-1,71,841.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Tue, 30/12/2025 2 Thu, 01/01/2026 1,43,718.00 5.26
(b) Reverse Repo Operation
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,787.70
E. Net liquidity injected from outstanding operations [injection
1,54,505.70
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-17,335.30
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on December 31, 2025 7,18,892.57
(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 31, 2025 30,770.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on December 12, 2025 3,25,160.00
@ 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: 2025-2026/1820 Deputy General Manager
(Communications)