**Executive Summary**
This is a press release from the Reserve Bank of India (RBI), dated November 24, 2025, providing details on money market operations as of November 21, 2025. It outlines the volume, weighted average rate, and range for various money market segments and RBI operations, including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). It also reports on the cash reserve position of scheduled commercial banks as of given dates.
**Key Points / Main Content**
* **Money Market Operations (November 21, 2025)**
* **Overnight Segment:** Total volume ₹6,52,118.24 Crore, weighted average rate 5.39%, range 4.75-6.50%. Includes Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **Term Segment:** Total Volume ₹249.40 Crore, weighted average rate 5.44%, range 4.85-5.60%. Includes Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Today's Operations - November 21, 2025)**
* **Variable Rate Repo Operation:** ₹16,363.00 Crore, tenor 7 days, maturity date Fri, 28/11/2025 and rate 5.51%
* **MSF:** Operations with tenors of 1-3 days with rates of 5.75%.
* **SDFA:** Operations with tenors of 1-3 days with rates of 5.25%.
* **Net Liquidity Injected:** -1,57,314.00 Crore (absorption).
* **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):** -1,49,046.65 Crore (absorption).
* **Reserve Position (Scheduled Commercial Banks)**
* **Cash Balances with RBI (November 21, 2025):** ₹7,87,195.65 Crore
* **Average Daily Cash Reserve Requirement (CRR) for the Fortnight Ending (November 28, 2025):** ₹8,06,057.00 Crore
* **Government of India Surplus Cash Balance Reckoned for Auction as on (November 21, 2025):** ₹16,363.00 Crore
* **Net Durable Liquidity (October 31, 2025):** ₹3,29,090.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by the CRR requirements, the availability of LAF, MSF, and SDF, and the overall liquidity conditions in the market.
* **Action Required:** Manage their cash reserves and liquidity positions in accordance with the RBI's guidelines and the prevailing market conditions.
**Money Market Participants**
* **Impact:** Directly involved in the various segments of the money market, impacted by the rates and volumes reported, informing trading and investment decisions.
* **Action Required:** Adjust their strategies based on the reported rates, volumes, and liquidity conditions.
**Reserve Bank of India (RBI)**
* **Impact:** Monitored market operations and implemented monetary policy through the LAF, MSF, and SDF.
* **Action Required:** Continue to monitor the money market and adjust operations as necessary to maintain financial stability and achieve monetary policy objectives.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for monetary policy, and banking regulation in India. It conducts Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
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 facility that allows the RBI to absorb liquidity from banks without the need for collateral.
Call Money: Money borrowed or lent on demand for a very short period, mainly overnight. A segment of the money market.
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 24, 2025
Money Market Operations as on November 21, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,52,118.24 5.39 4.75-6.50
I. Call Money 18,354.70 5.52 4.75-5.60
II. Triparty Repo 4,29,310.50 5.35 5.05-5.47
III. Market Repo 2,01,107.54 5.46 5.00-5.60
IV. Repo in Corporate Bond 3,345.50 5.57 5.45-6.50
B. Term Segment
I. Notice Money** 249.40 5.44 4.85-5.60
II. Term Money@@ 227.00 - 5.60-5.85
III. Triparty Repo 1,428.50 5.34 5.25-5.40
IV. Market Repo 1,242.11 5.44 5.37-5.55
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 Fri, 21/11/2025 7 Fri, 28/11/2025 16,363.00 5.51
(b) Reverse Repo Operation
3. MSF# Fri, 21/11/2025 1 Sat, 22/11/2025 404.00 5.75
Fri, 21/11/2025 2 Sun, 23/11/2025 0.00 5.75
Fri, 21/11/2025 3 Mon, 24/11/2025 41.00 5.75
4. SDFΔ# Fri, 21/11/2025 1 Sat, 22/11/2025 1,46,081.00 5.25
Fri, 21/11/2025 2 Sun, 23/11/2025 0.00 5.25
Fri, 21/11/2025 3 Mon, 24/11/2025 28,041.00 5.25
5. Net liquidity injected from today's
-1,57,314.00
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
-1,49,046.65
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on November 21, 2025 7,87,195.65
(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 21, 2025 16,363.00
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: 2025-2026/1552 Deputy General Manager
(Communications)