**Executive Summary**
This press release from the Reserve Bank of India, dated October 23, 2025, presents the money market operations as of October 21, 2025. It details the volumes, weighted average rates, and ranges for overnight and term segments, as well as the RBI's operations including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF). It also provides the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (October 21, 2025):**
* **Overnight Segment:** Total volume is 0.00 Crore across Call Money, Triparty Repo, Market Repo and Repo in Corporate Bond.
* **Term Segment:** Total volume is 0.00 Crore across Notice Money, Term Money, Triparty Repo, Market Repo and Repo in Corporate Bond.
* **RBI Operations (October 21, 2025):**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:**
* **Repo Operation (Variable Rate):** Amounts of 47.00 and 350.00 Crore with maturity dates of Wed, 22/10/2025 and Thu, 23/10/2025 at 5.75%
* **SDF (Variable Rate):** Amounts of 1,08,614.00 and 1,013.00 Crore with maturity dates of Wed, 22/10/2025 and Thu, 23/10/2025 at 5.25%
* **Net liquidity injected from today's operations:** -1,09,230.00 Crore
* **Outstanding Operations:**
* **Repo Operation (Variable Rate):** Amounts of 12,000.00 and 1,51,113.00 Crore with maturity dates of Thu, 23/10/2025 and Fri, 24/10/2025 at 5.52% and 5.51%
* **MSF (Variable Rate):** Amounts of 0.00 and 40.00 Crore with maturity dates of Wed, 22/10/2025 and Thu, 23/10/2025 at 5.75%
* **SDF (Variable Rate):** Amounts of 1,420.00 and 1,913.00 Crore with maturity dates of Wed, 22/10/2025 and Thu, 23/10/2025 at 5.25%
* **Standing Liquidity Facility (SLF) Availed from RBI:** 11,057.79 Crore
* **Net liquidity injected from outstanding operations:** 1,70,877.79 Crore
* **Net liquidity injected (outstanding including today's operations):** 61,647.79 Crore
* **Reserve Position:**
* Cash Balances with RBI as on October 21, 2025: ₹9,00,938.35 Crore
* Average daily cash reserve requirement for the fortnight ending October 31, 2025: ₹8,64,207.00 Crore
* Government of India Surplus Cash Balance Reckoned for Auction as on October 20, 2025: ₹1,63,113.00 Crore
* Net durable liquidity as on October 03, 2025: ₹3,85,602.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks' cash reserve positions are detailed, impacting their liquidity management.
* **Action Required:** Banks should review their cash balances with RBI and average daily cash reserve requirements to ensure compliance. They may also need to adjust their liquidity management strategies based on the net liquidity figures.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank of India, responsible for monetary policy and regulation of the banking system; the document reports on its money market operations.
Liquidity Adjustment Facility (LAF): A monetary policy tool used by the RBI to inject or absorb liquidity into/from the banking system.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against eligible government securities.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the banking system without any collateral.
Money Market: Refers to the market for short-term debt instruments, where financial institutions trade short-term funds. This document reports on the RBI's activity in this market.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
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 23, 2025
Money Market Operations as on October 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) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
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
(b) Reverse Repo Operation
3. MSF# Tue, 21/10/2025 1 Wed, 22/10/2025 47.00 5.75
Tue, 21/10/2025 2 Thu, 23/10/2025 350.00 5.75
4. SDFΔ# Tue, 21/10/2025 1 Wed, 22/10/2025 1,08,614.00 5.25
Tue, 21/10/2025 2 Thu, 23/10/2025 1,013.00 5.25
5. Net liquidity injected from today's
-1,09,230.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Mon, 20/10/2025 3 Thu, 23/10/2025 12,000.00 5.52
Mon, 20/10/2025 4 Fri, 24/10/2025 1,51,113.00 5.51
(b) Reverse Repo Operation
3. MSF# Mon, 20/10/2025 2 Wed, 22/10/2025 0.00 5.75
Mon, 20/10/2025 3 Thu, 23/10/2025 40.00 5.75
4. SDFΔ# Mon, 20/10/2025 2 Wed, 22/10/2025 1,420.00 5.25
Mon, 20/10/2025 3 Thu, 23/10/2025 1,913.00 5.25
D. Standing Liquidity Facility (SLF) Availed from RBI$ 11,057.79
E. Net liquidity injected from outstanding operations [injection
1,70,877.79
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
61,647.79
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on October 21, 2025 9,00,938.35
(ii) Average daily cash reserve requirement for the fortnight ending October 31, 2025 8,64,207.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 20, 2025 1,63,113.00
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: 2025-2026/1361 Deputy General Manager
(Communications)