**Executive Summary**
This press release, dated November 27, 2025, provides an overview of money market operations as of November 26, 2025, detailing volumes, weighted average rates, and ranges for various segments, including overnight and term segments. It also covers RBI operations, including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). It further provides an overview of the cash reserve position of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets**
* **Overnight Segment (I+II+III+IV):** Total volume of ₹6,92,932.49 Crore with a weighted average rate of 5.28% (range: 4.25-6.35%).
* **Call Money:** Volume of ₹16,851.11 Crore at a weighted average rate of 5.39% (range: 4.75-5.45%).
* **Triparty Repo:** Volume of ₹4,74,376.80 Crore at a weighted average rate of 5.26% (range: 5.22-5.40%).
* **Market Repo:** Volume of ₹1,98,747.08 Crore at a weighted average rate of 5.32% (range: 4.25-5.50%).
* **Repo in Corporate Bond:** Volume of ₹2,957.50 Crore at a weighted average rate of 5.40% (range: 5.30-6.35%).
* **Term Segment:**
* **Notice Money:** Volume of ₹231.50 Crore at a weighted average rate of 5.33% (range: 5.00-5.45%).
* **Term Money:** Volume of ₹586.00 Crore (range: 5.35-6.60%).
* **Triparty Repo:** Volume of ₹2,060.00 Crore at a weighted average rate of 5.36% (range: 5.25-5.40%).
* **Market Repo:** Volume of ₹38.81 Crore at a weighted average rate of 5.40% (range: 5.40-5.40%).
* **Repo in Corporate Bond:** Volume of ₹0.00 Crore.
* **RBI Operations**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Details on today's and outstanding operations.
* Fixed rate not specified.
* **Variable Rate:**
* Repo Operation (Fri, 21/11/2025 with a tenor of 7 Days): ₹16,363.00 Crore at 5.51% (Maturity Date: Fri, 28/11/2025).
* **MSF (Wed, 26/11/2025 with a tenor of 1 Day):** ₹1,985.00 Crore at 5.75% (Maturity Date: Thu, 27/11/2025).
* **SDFA (Wed, 26/11/2025 with a tenor of 1 Day):** ₹1,41,197.00 Crore at 5.25% (Maturity Date: Thu, 27/11/2025).
* Net liquidity injected from today's operations: ₹-1,39,212.00 Crore [injection (+)/absorption (-)].
* Net liquidity injected from outstanding operations: ₹24,630.35 Crore [injection (+)/absorption (-)].
* Net liquidity injected (outstanding including today's operations): ₹-1,14,581.65 Crore [injection (+)/absorption (-)].
* Standing Liquidity Facility (SLF) Availed from RBI: ₹8,267.35 Crore.
* **Reserve Position**
* **Cash Reserves Position of Scheduled Commercial Banks:**
* Cash balances with RBI as on November 26, 2025: ₹7,92,695.11 Crore.
* Average daily cash reserve requirement for the fortnight ending November 28, 2025: ₹8,06,057.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on November 26, 2025: ₹0.00 Crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on October 31, 2025: ₹3,29,090.00 Crore.
**Impact Analysis**
**Stakeholder: Scheduled Commercial Banks**
* **Impact:** Their liquidity and reserve requirements are affected by the outlined money market operations. The cash reserve ratios, balances with RBI, and access to facilities like MSF and SDF directly impact their operational liquidity.
* **Action Required:** Banks need to monitor the rates and volumes in the various segments to manage their funds effectively and meet the reserve requirements. They may need to adjust their strategies based on the net liquidity positions.
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact:** The RBI uses these money market operations to manage liquidity in the system and to transmit monetary policy signals.
* **Action Required:** The RBI monitors and adjusts its operations (LAF, MSF, SDF) based on the market conditions to ensure financial stability and to meet its monetary policy objectives.
**Stakeholder: Government of India**
* **Impact:** The Government of India's surplus cash balance impacts the liquidity in the market.
* **Action Required:** Monitor the market's liquidity position based on the provided data.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for monetary policy and regulation of the banking system, referenced throughout the document.
Liquidity Adjustment Facility (LAF): A monetary policy instrument used by the RBI to inject or absorb liquidity in the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow funds overnight from the RBI against government securities.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
Money Markets: Refers to the markets for short-term debt instruments, the operations of which are detailed in the document.
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 27, 2025
Money Market Operations as on November 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) 6,92,932.49 5.28 4.25-6.35
I. Call Money 16,851.11 5.39 4.75-5.45
II. Triparty Repo 4,74,376.80 5.26 5.22-5.40
III. Market Repo 1,98,747.08 5.32 4.25-5.50
IV. Repo in Corporate Bond 2,957.50 5.40 5.30-6.35
B. Term Segment
I. Notice Money** 231.50 5.33 5.00-5.45
II. Term Money@@ 586.00 - 5.35-6.60
III. Triparty Repo 2,060.00 5.36 5.25-5.40
IV. Market Repo 38.81 5.40 5.40-5.40
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# Wed, 26/11/2025 1 Thu, 27/11/2025 1,985.00 5.75
4. SDFΔ# Wed, 26/11/2025 1 Thu, 27/11/2025 1,41,197.00 5.25
5. Net liquidity injected from today's
-1,39,212.00
operations [injection (+)/absorption (-)]*
II Outstanding 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#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 8,267.35
E. Net liquidity injected from outstanding operations [injection
24,630.35
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,14,581.65
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on November 26, 2025 7,92,695.11
(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 26, 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: 2025-2026/1571 Deputy General Manager
(Communications)