**Executive Summary:**
This press release from the Reserve Bank of India (RBI), dated September 15, 2025, details money market operations as of September 12, 2025. It includes information on overnight and term segments, liquidity adjustment facilities, standing liquidity facilities, reserve positions, and net liquidity. The release provides data on volumes, rates, and outstanding amounts related to various financial instruments and facilities.
**Key Points / Main Content:**
* **Money Market Operations (September 12, 2025):**
* **Overnight Segment:** Total volume of ₹6,16,872.15 Crore with a weighted average rate of 5.37%.
* Call Money: ₹19,411.00 Crore, average rate of 5.43%.
* Triparty Repo: ₹4,00,317.15 Crore, average rate of 5.35%.
* Market Repo: ₹1,94,710.95 Crore, average rate of 5.39%.
* Repo in Corporate Bond: ₹2,433.05 Crore, average rate of 5.59%.
* **Term Segment:**
* Notice Money: ₹179.90 Crore, average rate of 5.37%.
* Term Money: ₹1,339.00 Crore, rate of 5.45%.
* Triparty Repo: ₹1,453.75 Crore, rate of 5.40%.
* Market Repo: ₹526.12 Crore, rate of 5.68%.
* Repo in Corporate Bond: ₹0.00 Crore.
* **RBI Operations (September 12, 2025):**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Standing Deposit Facility (SDF):**
* Repo: ₹1,50,015.00 Crore with a cut-off rate of 5.49% (Maturity: September 15, 2025).
* MSF: ₹164.00 Crore with a cut-off rate of 5.75% (Maturity: September 13, 2025); ₹1,020.00 Crore (Maturity: September 15, 2025)
* SDF: ₹1,12,618.00 Crore with a rate of 5.25% (Maturity: September 13, 2025); ₹29.00 Crore (Maturity: September 14, 2025); ₹10,603.00 Crore (Maturity: September 15, 2025).
* Net liquidity injected from today's operations: ₹2,72,081.00 Crore.
* Outstanding MSF: ₹7,756.902 Crore.
* Net liquidity injected from outstanding operations: ₹7,756.90 Crore.
* Net liquidity injected outstanding including today's operations: ₹2,64,324.10 Crore.
* **Reserve Position:**
* Cash balances with RBI (September 12, 2025): ₹9,16,199.98 Crore.
* Average daily cash reserve requirement (fortnight ending September 19, 2025): ₹9,04,057.00 Crore.
* **Government of India Surplus Cash Balance:**
* As on September 12, 2025: ₹0.00 Crore.
* **Net Durable Liquidity:**
* Surplus as on August 22, 2025: ₹4,85,401.00 Crore.
**Impact Analysis:**
**Scheduled Commercial Banks:**
* *Impact:* Need to maintain required cash reserve balances with RBI. Affected by liquidity adjustments and policy rates.
* *Action Required:* Monitor and adjust cash balances to meet reserve requirements and optimize participation in LAF, MSF, and SDF operations.
**Money Market Participants:**
* *Impact:* Affected by the rates and volumes in various segments of the money market, including call money, repo, and triparty repo.
* *Action Required:* Adjust trading and investment strategies based on the prevailing rates and liquidity conditions in the money market.
**Reserve Bank of India (RBI):**
* *Impact:* Responsible for managing liquidity in the market and ensuring financial stability.
* *Action Required:* Monitor market conditions and use available tools (LAF, MSF, SDF) to manage liquidity and maintain desired policy rates.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Mumbai, Maharashtra: City in India, location of the Central Office of the Reserve Bank of India.
Money Market: A market for short-term debt instruments.
Liquidity Adjustment Facility LAF: A tool used by the Reserve Bank of India to manage liquidity in the banking system.
Marginal Standing Facility MSF: A facility under which scheduled commercial banks can borrow funds overnight from the Reserve Bank of India.
Standing Deposit Facility SDF: A tool used by the Reserve Bank of India to absorb excess liquidity from the banking system.
Clearing Corporation of India Limited CCIL: An organization that provides clearing and settlement services for financial markets in India.
Ajit Prasad: Deputy General Manager, Communications at Reserve Bank of India.
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
September 15, 2025
Money Market Operations as on September 12, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,16,872.15 5.37 4.43-6.45
I. Call Money 19,411.00 5.43 4.75-5.50
II. Triparty Repo 4,00,317.15 5.35 5.25-5.49
III. Market Repo 1,94,710.95 5.39 4.43-5.65
IV. Repo in Corporate Bond 2,433.05 5.59 5.50-6.45
B. Term Segment
I. Notice Money** 179.90 5.37 5.10-5.45
II. Term Money@@ 1,339.00 - 5.45-5.85
III. Triparty Repo 1,453.75 5.40 5.30-5.49
IV. Market Repo 526.12 5.68 5.68-5.68
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&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo Fri, 12/09/2025 3 Mon, 15/09/2025 1,50,015.00 5.49
3. MSF# Fri, 12/09/2025 1 Sat, 13/09/2025 164.00 5.75
Fri, 12/09/2025 2 Sun, 14/09/2025 0.00 5.75
Fri, 12/09/2025 3 Mon, 15/09/2025 1,020.00 5.75
4. SDFΔ# Fri, 12/09/2025 1 Sat, 13/09/2025 1,12,618.00 5.25
Fri, 12/09/2025 2 Sun, 14/09/2025 29.00 5.25
Fri, 12/09/2025 3 Mon, 15/09/2025 10,603.00 5.25
5. Net liquidity injected from today's
-2,72,081.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(I) Main Operation
(a) Repo
(b) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 7,756.902
E. Net liquidity injected from outstanding operations [injection
7,756.90
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,64,324.10
operations) [injection (+)/absorption (-)]*
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 12, 2025 9,16,199.98
(ii) Average daily cash reserve requirement for the fortnight ending September 19, 2025 9,04,057.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ September 12, 2025 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on August 22, 2025 4,85,401.00
@ 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. 2019-2020/1900 dated February 06, 2020.
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: 2025-2026/1096 Deputy General Manager
(Communications)