Money Market Operations as on October 23, 2025

**Executive Summary** This document is a press release from the Reserve Bank of India (RBI) detailing money market operations as of October 23, 2025. It provides data on overnight and term segments, RBI operations including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF), and the cash reserve position of scheduled commercial banks. The data is presented in terms of volume, weighted average rate, range, and amounts. **Key Points / Main Content** * **Money Markets (as of October 23, 2025)** * **Overnight Segment:** * Total volume: ₹6,48,081.04 Crore, Weighted Average Rate: 5.33%, Range: 4.00-6.45% * Call Money: Volume ₹14,926.60 Crore, Weighted Average Rate: 5.46%, Range: 4.40-5.60% * Triparty Repo: Volume ₹4,16,177.00 Crore, Weighted Average Rate: 5.27%, Range: 4.75-5.45% * Market Repo: Volume ₹2,13,994.89 Crore, Weighted Average Rate: 5.44%, Range: 4.00-6.00% * Repo in Corporate Bond: Volume ₹2,982.55 Crore, Weighted Average Rate: 5.67%, Range: 5.55-6.45% * **Term Segment:** * Notice Money: Volume ₹46.20 Crore, Weighted Average Rate: 5.18%, Range: 5.00-5.25% * Term Money: Volume ₹1,376.00 Crore, Range: 5.40-6.05% * Triparty Repo: Volume ₹5,297.00 Crore, Weighted Average Rate: 5.31%, Range: 5.00-5.65% * Market Repo: Volume ₹718.61 Crore, Weighted Average Rate: 5.66%, Range: 5.52-5.70% * Repo in Corporate Bond: Volume ₹0.00 Crore. * **RBI Operations** * **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)** * Fixed Rate * Repo Operation: Auction Date Thu, 23/10/2025, Tenor 1 Day, Maturity Date Fri, 24/10/2025, Amount ₹475.00 Crore, Current Rate 5.51% * Reverse Repo Operation: Auction Date Thu, 23/10/2025, Tenor 1 Day, Maturity Date Fri, 24/10/2025, Amount ₹431.00 Crore, Current Rate 5.75% * MSF: Auction Date Thu, 23/10/2025, Tenor 1 Day, Maturity Date Fri, 24/10/2025, Amount ₹1,60,431.00 Crore, Current Rate 5.25% * SDFA: Net Liquidity injected from today's operations ₹-1,59,525.00 Crore * Variable Rate * Repo Operation: Auction Date Mon, 20/10/2025, Tenor 4 Day, Maturity Date Fri, 24/10/2025, Amount ₹-1,51,113.00 Crore, Current Rate 5.51% * Standing Liquidity Facility (SLF) Availed from RBI: ₹11,057.79 Crore. * Net liquidity injected from outstanding operations: ₹1,62,170.79 Crore. * Net liquidity injected (outstanding including today's operations): ₹2,645.79 Crore. * **Reserve Position** * Cash Reserves Position of Scheduled Commercial Banks: * Cash balances with RBI 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 [surplus (+)/deficit (-)] as on October 03, 2025: ₹3,85,602.00 Crore. **Impact Analysis** **Scheduled Commercial Banks** * **Impact:** Banks' reserve positions are affected, influencing their lending capacity and overall financial health. The cost of funds will be affected due to the rates mentioned in the report. * **Action Required:** Banks need to manage their cash reserves to meet the required balances with RBI and align with the provided figures. **Financial Institutions and Investors** * **Impact:** Money market rates and liquidity conditions impact investment decisions and returns. The data offers insights into market trends and potential risks. * **Action Required:** Analyze the market trends and the RBI's operations to make informed investment decisions and manage risks. **Government** * **Impact:** Surplus cash balances of the Government influence liquidity conditions, affecting borrowing costs and fiscal management. * **Action Required:** Monitor and respond to liquidity conditions based on surplus cash balances to manage borrowing costs effectively.

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