**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated October 24, 2025, reports on money market operations as of October 23, 2025. It details volumes, weighted average rates, and ranges for various money market segments, as well as RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also provides information on the cash reserve position of scheduled commercial banks as of October 23, 2025.
**Key Points / Main Content**
* **Money Markets (October 23, 2025):**
* **Overnight Segment:** Total volume of ₹6,48,081.04 Crore with a weighted average rate of 5.33% (range: 4.00-6.45%). This includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Includes Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bonds.
* **RBI Operations (October 23, 2025):**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):**
* Repo Operation: ₹475.00 Crore at 5.51%
* Reverse Repo Operation: ₹431.00 Crore at 5.75%
* MSF: ₹1,60,431.00 Crore at 5.25%
* Net liquidity injected from today's operations: ₹-1,59,525.00 Crore.
* Net liquidity injected from outstanding operations: ₹1,62,170.79 Crore.
* Net liquidity injected (outstanding including today's operations): ₹2,645.79 Crore.
* **Outstanding Operations:**
* Repo Operation (Mon, 20/10/2025, 4 days tenor, Maturity Fri, 24/10/2025): ₹1,51,113.00 Crore at 5.51%.
* **Reserve Position:**
* Cash balances with RBI for Scheduled Commercial Banks as on October 23, 2025: ₹8,70,631.76 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 23, 2025: ₹475.00 Crore.
* Net durable liquidity as on October 03, 2025: ₹3,85,602.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
**Impact**
* The cash reserve positions of scheduled commercial banks are directly affected by the information in this report.
* Cash balances with RBI, changes in average daily cash reserve requirements, and liquidity management through LAF, MSF, and SDF mechanisms influence the banks' operational liquidity.
* The banks are affected by the interest rates and liquidity conditions in the money markets.
**Action Required**
* Banks need to ensure they meet the cash reserve requirements with the RBI.
* They should adjust their liquidity management strategies based on the RBI's money market operations, rates, and available facilities.
* Monitor the trends in money markets and adjust their investment and lending strategies.
Key Entities Referenced
Reserve Bank of India (RBI): Central bank, regulates money markets and liquidity through various instruments.
Liquidity Adjustment Facility (LAF): Tool used by RBI to manage liquidity through repo and reverse repo operations.
Marginal Standing Facility (MSF): Facility for banks to borrow overnight from RBI against government securities.
Standing Deposit Facility (SDF): Tool used by RBI to absorb liquidity from the banking system.
Money Markets: Overall scope of the statement
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 24, 2025
Money Market Operations as on October 23, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,48,081.04 5.33 4.00-6.45
I. Call Money 14,926.60 5.46 4.40-5.60
II. Triparty Repo 4,16,177.00 5.27 4.75-5.45
III. Market Repo 2,13,994.89 5.44 4.00-6.00
IV. Repo in Corporate Bond 2,982.55 5.67 5.55-6.45
B. Term Segment
I. Notice Money** 46.20 5.18 5.00-5.25
II. Term Money@@ 1,376.00 - 5.40-6.05
III. Triparty Repo 5,297.00 5.31 5.00-5.65
IV. Market Repo 718.61 5.66 5.52-5.70
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 Thu, 23/10/2025 1 Fri, 24/10/2025 475.00 5.51
(b) Reverse Repo Operation
3. MSF# Thu, 23/10/2025 1 Fri, 24/10/2025 431.00 5.75
4. SDFΔ# Thu, 23/10/2025 1 Fri, 24/10/2025 1,60,431.00 5.25
5. Net liquidity injected from today's
-1,59,525.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Mon, 20/10/2025 4 Fri, 24/10/2025 1,51,113.00 5.51
(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
1,62,170.79
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
2,645.79
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on October 23, 2025 8,70,631.76
(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 23, 2025 475.00
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: 2025-2026/1372 Deputy General Manager
(Communications)