**Executive Summary**
This document presents a summary of money market operations as of October 8, 2025, including overnight and term segments, RBI operations (LAF, MSF, SDF), standing liquidity facilities, and cash reserve positions. It specifies volumes, weighted average rates, ranges for money markets, auction dates, tenors, maturity dates, and applicable rates for RBI operations. Key stakeholders impacted include scheduled commercial banks and entities participating in money market operations.
**Key Points / Main Content**
* **Money Markets:**
* *Overnight Segment:* Total volume is ₹6,38,972.88 crore, with a weighted average rate of 5.28% and a range of 4.50-6.30%.
* *Term Segment:* Includes Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond.
* **RBI Operations (Today's Operations - October 8, 2025):**
* *MSF:* ₹1,231.00 crore at 5.75% rate, maturing on October 9, 2025.
* *SDF:* ₹1,39,538.00 crore at 5.25% rate, maturing on October 9, 2025.
* *Net Liquidity:* Net liquidity injected from today's operations is -₹1,38,307.00 crore.
* **RBI Operations (Outstanding Operations):**
* Standing Liquidity Facility (SLF) availed from RBI is ₹9,037.17 crore.
* Net liquidity injected from outstanding operations is ₹9,037.17 crore.
* Net liquidity injected (outstanding including today's operations) is -₹1,29,269.83 crore.
* **Cash Reserve Positions of Scheduled Commercial Banks:**
* Cash balances with RBI as on October 8, 2025: ₹8,36,157.38 crore.
* Average daily cash reserve requirement for the fortnight ending October 17, 2025: ₹8,46,979.00 crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks' cash reserve requirements and access to liquidity facilities (SLF) affect their operations and balance sheets. The RBI operations, including the rates and amounts of MSF and SDF, have a direct bearing on their liquidity management strategies.
* **Action Required:** Banks should monitor their cash balances with RBI and ensure compliance with the average daily cash reserve requirement for the specified fortnight. They must also manage their participation in MSF and SDF operations based on their liquidity needs and the prevailing rates.
**Entities Participating in Money Market Operations**
* **Impact:** The rates and volumes in the overnight and term money markets will influence the borrowing and lending decisions of these entities.
* **Action Required:** Participants need to track the weighted average rates and ranges in the money markets to make informed decisions on borrowing and lending, ensuring alignment with market conditions and risk appetite.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank responsible for monetary policy and regulation of the banking system. Involved in Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF).
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 SLR portfolio.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb excess liquidity from the banking system without any collateral.
Money Markets: Market where financial instruments with high liquidity and very short maturities are traded, used for overnight and term lending/borrowing.
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
October 09, 2025
Money Market Operations as on October 08, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,38,972.88 5.28 4.50-6.30
I. Call Money 15,471.12 5.34 4.75-5.40
II. Triparty Repo 4,14,362.30 5.27 5.24-5.35
III. Market Repo 2,04,428.91 5.31 4.50-5.50
IV. Repo in Corporate Bond 4,710.55 5.47 5.40-6.30
B. Term Segment
I. Notice Money** 137.80 5.24 5.00-5.35
II. Term Money@@ 1,350.50 - 5.40-5.80
III. Triparty Repo 5,505.00 5.32 5.20-5.40
IV. Market Repo 1,720.75 5.39 5.35-5.65
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&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
3. MSF# Wed, 08/10/2025 1 Thu, 09/10/2025 1,231.00 5.75
4. SDFΔ# Wed, 08/10/2025 1 Thu, 09/10/2025 1,39,538.00 5.25
5. Net liquidity injected from today's
-1,38,307.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 9,037.17
E. Net liquidity injected from outstanding operations [injection
9,037.17
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-1,29,269.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on October 08, 2025 8,36,157.38
(ii) Average daily cash reserve requirement for the fortnight ending October 17, 2025 8,46,979.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 08, 2025 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on September 19, 2025 5,21,855.00
@ 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. 2019-2020/1900 dated February 06, 2020.
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: 2025-2026/1278 Deputy General Manager
(Communications)