**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated November 21, 2025, reports on money market operations as of November 20, 2025. It details volumes, weighted average rates, and ranges for overnight and term segments, as well as RBI operations including liquidity adjustment facilities. The release also covers the cash reserve position of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (as of November 20, 2025):**
* **Overnight Segment:**
* Total volume: ₹6,48,360.51 Crore, Weighted Average Rate: 5.30%, Range: 4.25-6.35%
* Call Money: Volume: ₹17,968.42 Crore, Weighted Average Rate: 5.41%, Range: 4.75-5.50%
* Triparty Repo: Volume: ₹4,18,721.15 Crore, Weighted Average Rate: 5.27%, Range: 5.00-5.33%
* Market Repo: Volume: ₹2,08,693.44 Crore, Weighted Average Rate: 5.36%, Range: 4.25-5.65%
* Repo in Corporate Bond: Volume: ₹2,977.50 Crore, Weighted Average Rate: 5.43%, Range: 5.35-6.35%
* **Term Segment:**
* Notice Money: Volume: ₹326.50 Crore, Weighted Average Rate: 5.42%, Range: 5.00-5.50%
* Term Money: Volume: ₹217.75 Crore, Range: 5.50-5.85%
* Triparty Repo: Volume: ₹1,538.00 Crore, Weighted Average Rate: 5.32%, Range: 5.25-5.42%
* Market Repo: Volume: ₹739.87 Crore, Weighted Average Rate: 5.54%, Range: 5.45-5.58%
* Repo in Corporate Bond: Volume: ₹0.00 Crore.
* **RBI Operations (Today's Operations):**
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
* MSF: Amount ₹1,072.00 Crore, Current Rate/Cut off Rate: 5.75%, Maturity Date: Fri, 21/11/2025
* SDFA: Amount ₹1,66,262.00 Crore, Current Rate/Cut off Rate: 5.25%, Maturity Date: Fri, 21/11/2025
* Net liquidity injected from today's operations: -₹1,65,190.00 Crore
* **RBI Operations (Outstanding Operations):**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,267.35 Crore
* Net liquidity injected from outstanding operations: ₹8,267.35 Crore
* Net liquidity injected (outstanding including today's operations): -₹1,56,922.65 Crore
* **Cash Reserves Position of Scheduled Commercial Banks (as of November 20, 2025):**
* Cash balances with RBI: ₹8,23,029.81 Crore
* Average daily cash reserve requirement for the fortnight ending November 28, 2025: ₹8,06,057.00 Crore
* **Government of India Surplus Cash Balance (November 20, 2025):** ₹0.00 Crore
* **Net Durable Liquidity (October 31, 2025):** ₹3,29,090.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by the cash reserve requirements and overall liquidity conditions.
* **Action Required:** Maintain required cash balances with RBI and manage liquidity based on the market operations.
**Financial Institutions Participating in Money Markets**
* **Impact:** Impacted by the rates and volumes in various money market segments, which influence their short-term funding costs and investment returns.
* **Action Required:** Monitor money market trends and adjust funding and investment strategies accordingly.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for monetary policy and financial stability.
Liquidity Adjustment Facility (LAF): A monetary policy tool used by the RBI to manage liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their government securities portfolio.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the commercial banks without any collateral.
Money Markets: A market where short-term debt instruments are traded. The provided data shows money market 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
November 21, 2025
Money Market Operations as on November 20, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,48,360.51 5.30 4.25-6.35
I. Call Money 17,968.42 5.41 4.75-5.50
II. Triparty Repo 4,18,721.15 5.27 5.00-5.33
III. Market Repo 2,08,693.44 5.36 4.25-5.65
IV. Repo in Corporate Bond 2,977.50 5.43 5.35-6.35
B. Term Segment
I. Notice Money** 326.50 5.42 5.00-5.50
II. Term Money@@ 217.75 - 5.50-5.85
III. Triparty Repo 1,538.00 5.32 5.25-5.42
IV. Market Repo 739.87 5.54 5.45-5.58
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
(b) Reverse Repo Operation
3. MSF# Thu, 20/11/2025 1 Fri, 21/11/2025 1,072.00 5.75
4. SDFΔ# Thu, 20/11/2025 1 Fri, 21/11/2025 1,66,262.00 5.25
5. Net liquidity injected from today's
-1,65,190.00
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$ 8,267.35
E. Net liquidity injected from outstanding operations [injection
8,267.35
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,56,922.65
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on November 20, 2025 8,23,029.81
(ii) Average daily cash reserve requirement for the fortnight ending November 28, 2025 8,06,057.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ November 20, 2025 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on October 31, 2025 3,29,090.00
@ 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.
Ajit Prasad
Press Release: 2025-2026/1542 Deputy General Manager
(Communications)