**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated October 20, 2025, details money market operations as of October 17, 2025. It provides information on volumes, weighted average rates, and ranges for overnight and term segments, as well as RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). It also summarises the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Markets:**
* **Overnight Segment:** Total volume of ₹10,543.38 Crore with a weighted average rate of 5.44% and a range of 3.75-6.63%.
* **Term Segment:** Total volume of ₹14,521.43 Crore with a weighted average rate of 5.56% and a range of 4.85-5.98%.
* **RBI Operations (Today's Operations):**
* **Variable Rate Repo Operation:** ₹2,750.00 Crore with a rate of 5.51% maturing on October 20, 2025.
* **MSF:** Amounts of ₹7,243.00 Crore, ₹0.00 Crore, and ₹540.00 Crore with a rate of 5.75% maturing on October 18, 2025, October 19, 2025 and October 20, 2025, respectively.
* **SDF:** Amounts of ₹1,18,112.00 Crore, ₹75.00 Crore, and ₹2,287.00 Crore with a rate of 5.25% maturing on October 18, 2025, October 19, 2025 and October 20, 2025, respectively.
* **Net liquidity:** Net liquidity injected from today's operations [injection (+)/absorption (-)]* of ₹-1,09,941.00 Crore.
* **RBI Operations (Outstanding Operations):**
* **Standing Liquidity Facility (SLF) Availed from RBI:** ₹11,057.79 Crore
* **Net liquidity injected:** Net liquidity injected from outstanding operations [injection (+)/absorption (-)]* of ₹11,057.79 Crore.
* **Net liquidity injected (outstanding including today's operations):** Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]* of ₹-98,883.21 Crore.
* **Reserve Position:**
* **Cash Reserves:** Cash balances with RBI as on October 17, 2025 - ₹8,33,827.70 Crore.
* **Average daily cash reserve requirement:** Average daily cash reserve requirement for the fortnight ending October 17, 2025 - ₹8,46,979.00 Crore.
* **Government of India Surplus Cash Balance Reckoned for Auction:** As on October 17, 2025 - ₹2,750.00 Crore.
* **Net durable liquidity:** As on October 03, 2025 - ₹3,85,602.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Affected by the cash reserve requirements and liquidity conditions dictated by RBI policies.
* **Action Required:** Maintain adequate cash reserves and manage liquidity in accordance with RBI guidelines.
**Money Market Participants**
* **Impact:** Impacted by the rates and volumes in the overnight and term money markets, influencing their borrowing and lending decisions.
* **Action Required:** Adjust trading strategies based on the prevailing market conditions and RBI's liquidity management operations.
**Government of India**
* **Impact:** Affected by the management of surplus cash balances held with the RBI.
* **Action Required:** Monitor cash positions and coordinate with RBI on liquidity management strategies.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for regulating monetary policy and overseeing the financial system. The report details money market operations conducted by RBI.
Liquidity Adjustment Facility (LAF): A monetary policy 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 overnight funds from the RBI against their SLR portfolio.
Standing Deposit Facility (SDF): A tool used by RBI to absorb liquidity from the banking system without any collateral.
Money Market Operations: Various activities undertaken by the RBI in the money market to influence liquidity and interest rates.
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 20, 2025
Money Market Operations as on October 17, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 10,543.38 5.44 3.75-6.63
I. Call Money 2,385.55 5.30 4.90-5.60
II. Triparty Repo 5,214.50 5.44 5.00-6.25
III. Market Repo 105.78 4.43 3.75-4.50
IV. Repo in Corporate Bond 2,837.55 5.60 5.45-6.63
B. Term Segment
I. Notice Money** 14,521.43 5.56 4.85-5.98
II. Term Money@@ 626.00 - 5.45-5.85
III. Triparty Repo 4,13,857.25 5.53 5.34-6.00
IV. Market Repo 2,05,789.05 5.51 4.75-6.00
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 Fri, 17/10/2025 3 Mon, 20/10/2025 2,750.00 5.51
(b) Reverse Repo Operation
3. MSF# Fri, 17/10/2025 1 Sat, 18/10/2025 7,243.00 5.75
Fri, 17/10/2025 2 Sun, 19/10/2025 0.00 5.75
Fri, 17/10/2025 3 Mon, 20/10/2025 540.00 5.75
4. SDFΔ# Fri, 17/10/2025 1 Sat, 18/10/2025 1,18,112.00 5.25
Fri, 17/10/2025 2 Sun, 19/10/2025 75.00 5.25
Fri, 17/10/2025 3 Mon, 20/10/2025 2,287.00 5.25
5. Net liquidity injected from today's
-1,09,941.00
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$ 11,057.79
E. Net liquidity injected from outstanding operations [injection
11,057.79
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-98,883.21
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on October 17, 2025 8,33,827.70
(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 17, 2025 2,750.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on October 03, 2025 3,85,602.00
@ 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: 2025-2026/1345 Deputy General Manager
(Communications)