**Executive Summary**
This press release from the Reserve Bank of India, dated September 22, 2025, provides details on money market operations and reserve positions as of September 19, 2025. It includes information on overnight and term segments, RBI operations, standing liquidity facilities, and cash reserve positions. Key information pertains to volumes, weighted average rates, and rate ranges for various money market instruments.
**Key Points / Main Content**
* **Money Markets (September 19, 2025)**
* **Overnight Segment:**
* Total volume: ₹9,381.99 Crore, weighted average rate: 5.47%, range: 4.25-6.50%.
* Call Money: Volume ₹884.15 Crore, rate 5.06%, range 4.75-5.24%.
* Triparty Repo: Volume ₹2,885.05 Crore, rate 5.26%, range 5.00-6.00%.
* Market Repo: Volume ₹2,037.24 Crore, rate 5.50%, range 4.25-5.58%.
* Repo in Corporate Bond: Volume ₹3,575.55 Crore, rate 5.72%, range 5.60-6.50%.
* **Term Segment:**
* Total volume: ₹17,241.12 Crore, weighted average rate: 5.53%, range: 4.85-5.60%.
* Notice Money: Volume ₹430.00 Crore, range 5.55-5.90%.
* Triparty Repo: Volume ₹4,08,172.15 Crore, rate 5.40%, range 5.20-5.60%.
* Market Repo: Volume ₹2,12,922.21 Crore, rate 5.48%, range 4.00-5.65%.
* Repo in Corporate Bond: Volume ₹0.00 Crore.
* **RBI Operations (September 19, 2025)**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) - Today's Operations:**
* Repo operations on Fri, 19/09/2025: Volumes and rates specified for varying tenors.
* MSF operations on Fri, 19/09/2025: Volumes and rates specified for varying tenors.
* SDF operations on Fri, 19/09/2025: Volumes and rates specified for varying tenors.
* **Net Liquidity:**
* Net liquidity injected from today's operations: -₹63,522.00 Crore.
* **Outstanding Operations:**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹10,318.83 Crore.
* Net liquidity injected from outstanding operations: ₹10,318.83 Crore.
* Net liquidity injected (outstanding including today's operations): -₹53,203.17 Crore.
* **Reserve Position (September 19, 2025)**
* Cash Reserves Position of Scheduled Commercial Banks: ₹8,91,810.76 Crore as on September 19, 2025.
* 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 19, 2025: ₹60,357.00 Crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on September 05, 2025: ₹4,66,312.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:**
* Subject to reserve requirements and influenced by liquidity conditions.
* **Action Required:**
* Maintain adequate cash reserves and manage liquidity according to the specified rates and operations.
**Money Market Participants**
* **Impact:**
* Affected by the rates and volumes of various money market instruments, influencing their trading strategies and profitability.
* **Action Required:**
* Monitor market trends and adjust positions based on the RBI's money market operations and liquidity conditions.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, overseeing money market operations and reserve positions.
Liquidity Adjustment Facility (LAF): A tool used by the Reserve Bank of India to manage liquidity in the money market.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the Reserve Bank of India.
Standing Deposit Facility (SDF): A tool for absorbing liquidity from the banking system.
Money Market: The market for short-term debt instruments, where overnight and term lending/borrowing takes place.
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 22, 2025
Money Market Operations as on September 19, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 9,381.99 5.47 4.25-6.50
I. Call Money 884.15 5.06 4.75-5.24
II. Triparty Repo 2,885.05 5.26 5.00-6.00
III. Market Repo 2,037.24 5.50 4.25-5.58
IV. Repo in Corporate Bond 3,575.55 5.72 5.60-6.50
B. Term Segment
I. Notice Money** 17,241.12 5.53 4.85-5.60
II. Term Money@@ 430.00 - 5.55-5.90
III. Triparty Repo 4,08,172.15 5.40 5.20-5.60
IV. Market Repo 2,12,922.21 5.48 4.00-5.65
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 Fri, 19/09/2025 3 Mon, 22/09/2025 390.00 5.51
Fri, 19/09/2025 6 Thu, 25/09/2025 59,967.00 5.51
(b) Reverse Repo
3. MSF# Fri, 19/09/2025 1 Sat, 20/09/2025 160.00 5.75
Fri, 19/09/2025 2 Sun, 21/09/2025 0.00 5.75
Fri, 19/09/2025 3 Mon, 22/09/2025 150.00 5.75
4. SDFΔ# Fri, 19/09/2025 1 Sat, 20/09/2025 1,21,678.00 5.25
Fri, 19/09/2025 2 Sun, 21/09/2025 0.00 5.25
Fri, 19/09/2025 3 Mon, 22/09/2025 2,511.00 5.25
5. Net liquidity injected from today's
-63,522.00
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#2
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,318.83
E. Net liquidity injected from outstanding operations [injection
10,318.83
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-53,203.17
operations) [injection (+)/absorption (-)]*
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 19, 2025 8,91,810.76
(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 19, 2025 60,357.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on September 05, 2025 4,66,312.00
@ 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: 2025-2026/1139 Deputy General Manager
(Communications)