**Executive Summary:**
This press release from the Reserve Bank of India (RBI), dated September 17, 2025, reports on money market operations as of September 16, 2025. It details volume, weighted average rates, and ranges for various overnight and term segments, including call money, repo, and standing liquidity facilities. The release also covers the cash reserve position of scheduled commercial banks.
**Key Points / Main Content:**
* **Money Market Operations (September 16, 2025):**
* **Overnight Segment:**
* Call Money: ₹20,599.74 Crore, 5.43% (Weighted Average Rate)
* Triparty Repo: ₹4,50,372.45 Crore, 5.37% (Weighted Average Rate)
* Market Repo: ₹1,95,710.63 Crore, 5.41% (Weighted Average Rate)
* Repo in Corporate Bond: ₹3,542.40 Crore, 5.64% (Weighted Average Rate)
* **Term Segment:**
* Notice Money: ₹253.45 Crore, 5.34% (Weighted Average Rate)
* Term Money: ₹692.50 Crore, 5.40% (Weighted Average Rate)
* Triparty Repo: ₹3,880.00 Crore, 5.41% (Weighted Average Rate)
* Market Repo: ₹392.51 Crore, 5.60% (Weighted Average Rate)
* Repo in Corporate Bond: ₹0.00 Crore
* **Liquidity Adjustment Facility (LAF)/Marginal Standing Facility (MSF)/Standing Deposit Facility (SDF) Operations:**
* **Today's Operations (September 16, 2025):**
* Repo: ₹585.00 Crore, 5.51% Cut-off Rate (Maturity: September 19, 2025)
* MSF: ₹18,172.00 Crore, 5.75% Cut-off Rate (Maturity: September 17, 2025)
* SDF: ₹98,460.00 Crore, 5.25% Cut-off Rate (Maturity: September 17, 2025)
* Net liquidity injected from today's operations: ₹79,703.00 Crore (injection)
* **Standing Liquidity Facility (SLF):**
* Availed from RBI: ₹9,123.57 Crore
* Net liquidity injected from outstanding operations: ₹9,123.57 Crore (injection)
* **Overall Liquidity:**
* Net liquidity injected outstanding including today's operations: ₹70,579.43 Crore (injection)
* **Cash Reserve Position (September 16, 2025):**
* Cash balances with RBI: ₹8,71,769.41 Crore
* Average daily cash reserve requirement for the fortnight ending September 19, 2025: ₹9,04,057.00 Crore
* **Government of India Surplus Cash Balance:**
* Reckoned for Auction as on September 16, 2025: ₹585.00 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 balances with RBI and manage liquidity positions in accordance with money market rates and available facilities (LAF, MSF, SDF, SLF).
* *Action Required:* Monitor money market rates, manage cash reserves to meet requirements for the fortnight ending September 19, 2025, and utilize available liquidity facilities as needed.
**Money Market Participants (e.g., Financial Institutions, Corporates):**
* *Impact:* Affected by the overnight and term rates in various segments like call money, repo, and corporate bonds; also affected by the liquidity conditions and the rates in LAF, MSF and SDF.
* *Action Required:* Monitor money market trends and adjust their borrowing and lending strategies based on the reported rates and liquidity conditions.
**Reserve Bank of India (RBI):**
* *Impact:* The data informs RBI's ongoing monitoring and management of liquidity in the money market and its monetary policy operations.
* *Action Required:* Continue monitoring market dynamics and adjust liquidity management tools (LAF, MSF, SDF) as necessary to maintain stability and achieve monetary policy goals.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for monetary policy and regulation of the banking system. This press release concerns its money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI against their government securities holdings.
Standing Deposit Facility (SDF): A tool used by the RBI to absorb excess liquidity from the banking system without any collateral.
Cash Reserve Ratio (CRR): The percentage of a bank's total deposits that it is required to maintain with the RBI.
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 17, 2025
Money Market Operations as on September 16, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,70,225.22 5.39 3.00-6.50
I. Call Money 20,599.74 5.43 4.75-5.50
II. Triparty Repo 4,50,372.45 5.37 5.24-5.45
III. Market Repo 1,95,710.63 5.41 3.00-6.00
IV. Repo in Corporate Bond 3,542.40 5.64 5.55-6.50
B. Term Segment
I. Notice Money** 253.45 5.34 4.90-5.45
II. Term Money@@ 692.50 - 5.40-5.85
III. Triparty Repo 3,880.00 5.41 5.35-5.50
IV. Market Repo 392.51 5.60 5.60-5.60
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 Tue, 16/09/2025 3 Fri, 19/09/2025 585.00 5.51
(b) Reverse Repo
3. MSF# Tue, 16/09/2025 1 Wed, 17/09/2025 18,172.00 5.75
4. SDFΔ# Tue, 16/09/2025 1 Wed, 17/09/2025 98,460.00 5.25
5. Net liquidity injected from today's
-79,703.00
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$ 9,123.57
E. Net liquidity injected from outstanding operations [injection
9,123.57
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-70,579.43
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 16, 2025 8,71,769.41
(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 16, 2025 585.00
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: 2025-2026/1108 Deputy General Manager
(Communications)