Money Market Operations as on October 23, 2025

**Executive Summary** This press release from the Reserve Bank of India, dated October 24, 2025, reports on the money market operations as of October 23, 2025. It details volumes, weighted average rates, and ranges for various segments, including overnight and term segments, as well as RBI operations, including Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF). The release also presents the cash reserve positions of scheduled commercial banks. **Key Points / Main Content** * **Money Markets:** * **Overnight Segment:** Total volume is ₹6,48,081.04 Crore with a weighted average rate of 5.33% and a range of 4.00-6.45%. * Call Money: ₹14,926.60 Crore; Average rate: 5.46%; Range: 4.40-5.60% * Triparty Repo: ₹4,16,177.00 Crore; Average rate: 5.27%; Range: 4.75-5.45% * Market Repo: ₹2,13,994.89 Crore; Average rate: 5.44%; Range: 4.00-6.00% * Repo in Corporate Bond: ₹2,982.55 Crore; Average rate: 5.67%; Range: 5.55-6.45% * **Term Segment:** Total volume is ₹7,391.81 Crore * Notice Money: ₹46.20 Crore; Average rate: 5.18%; Range: 5.00-5.25% * Term Money: ₹1,376.00 Crore; Average rate: 5.31%; Range: 5.40-6.05% * Triparty Repo: ₹5,297.00 Crore; Average rate: 5.31%; Range: 5.00-5.65% * Market Repo: ₹718.61 Crore; Average rate: 5.66%; Range: 5.52-5.70% * Repo in Corporate Bond: ₹0.00 Crore * **RBI Operations:** * **Today's Operations (October 23, 2025):** * Repo Operation: ₹475.00 Crore; Rate: 5.51%; Maturity Date: October 24, 2025 * Reverse Repo Operation: ₹431.00 Crore; Rate: 5.75%; Maturity Date: October 24, 2025 * MSF: ₹1,60,431.00 Crore; Rate: 5.25%; Maturity Date: October 24, 2025 * Net Liquidity Injection: ₹-1,59,525.00 Crore * **Outstanding Operations:** * Repo Operation: ₹1,51,113.00 Crore; Rate: 5.51%; Maturity Date: October 24, 2025 * 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 (October 23, 2025) * Cash balances with RBI: ₹8,70,631.76 Crore * Average daily cash reserve requirement: ₹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 need to maintain the required cash reserve ratio (CRR) with the RBI and are impacted by the rates and liquidity available through LAF, MSF, and SDF. * **Action Required:** Monitor liquidity conditions, manage cash reserves to meet CRR requirements, and participate in RBI operations as needed. **Government of India** * **Impact:** Government is impacted by the surplus cash balance reckoned for auction * **Action Required:** Monitor the surplus cash balance reckoned for auction. **RBI** * **Impact:** RBI needs to monitor and manage the liquidity in the money markets. * **Action Required:** Monitor liquidity conditions, manage LAF, MSF, and SDF to maintain stability in the money markets.

Key Entities Referenced