**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated September 24, 2025, reports on money market operations as of September 23, 2025. It details volumes, weighted average rates, and ranges for various segments, including overnight, term, and RBI operations. It also covers the cash reserve position of scheduled commercial banks.
**Key Points / Main Content**
*Money Markets*
* Overnight Segment: Total volume is ₹6,57,845.66 Crore with a weighted average rate of 5.47% and a range of 4.75-6.55%. This includes call money, triparty repo, market repo, and repo in corporate bonds.
* Term Segment: Includes notice money, term money, triparty repo, market repo, and repo in corporate bonds.
*RBI Operations*
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF):
* Repo: ₹1,00,006.00 Crore at 5.51%.
* Reverse Repo: ₹40,510.00 Crore at 5.51%.
* MSF: ₹328.00 Crore at 5.75%.
* SDFA: ₹1,23,947.00 Crore at 5.25%.
* Net liquidity injected from today's operations [injection (+)/absorption (-)]: ₹16,897.00 Crore
* Outstanding Operations:
* Repo: ₹59,967.00 Crore at 5.51% with maturity on Thu, 25/09/2025.
* Standing Liquidity Facility (SLF) Availed from RBI: ₹10,318.83 Crore
* Net liquidity injected from outstanding operations [injection (+)/absorption (-)]: ₹70,285.83 Crore
* Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]: ₹87,182.83 Crore
*Reserve Position*
* Cash Reserves Position of Scheduled Commercial Banks:
* Cash balances with RBI as on September 23, 2025: ₹9,59,344.94 Crore.
* Average daily cash reserve requirement for the fortnight ending October 03, 2025: ₹9,13,308.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on September 23, 2025: ₹1,40,516.00 Crore
* Net durable liquidity [surplus (+)/deficit (-)] as on September 05, 2025: ₹4,66,312.00 Crore
**Impact Analysis**
**Banks and Financial Institutions**
*Impact:*
They need to manage their liquidity positions according to the reported rates and volumes in the money markets and RBI operations.
*Action Required:*
Adjust lending and borrowing strategies based on LAF, MSF, and SDF rates, as well as cash reserve requirements.
**RBI**
*Impact:*
The data informs the RBI's ongoing monetary policy and liquidity management decisions.
*Action Required:*
Monitor market trends, adjust policy rates and liquidity tools as needed to maintain financial stability.
Key Entities Referenced
Reserve Bank of India: Central bank of India; primary regulator for the described money market operations.
Liquidity Adjustment Facility (LAF): A monetary policy tool used by RBI to inject or absorb liquidity.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight from the RBI.
Standing Deposit Facility (SDF): A monetary policy tool that allows the RBI to absorb liquidity from banks without any collateral.
Money Market: The overall subject of the operations described.
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 24, 2025
Money Market Operations as on September 23, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,57,845.66 5.47 4.75-6.55
I. Call Money 18,374.64 5.59 4.75-5.70
II. Triparty Repo 4,35,985.50 5.41 5.00-5.58
III. Market Repo 1,99,774.52 5.57 5.00-5.75
IV. Repo in Corporate Bond 3,711.00 5.77 5.70-6.55
B. Term Segment
I. Notice Money** 167.00 5.41 5.10-5.60
II. Term Money@@ 65.00 - 5.80-5.90
III. Triparty Repo 4,516.00 5.50 5.25-5.75
IV. Market Repo 69.40 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, 23/09/2025 1 Wed, 24/09/2025 1,00,006.00 5.51
Tue, 23/09/2025 1 Wed, 24/09/2025 40,510.00 5.51
(b) Reverse Repo
3. MSF# Tue, 23/09/2025 1 Wed, 24/09/2025 328.00 5.75
4. SDFΔ# Tue, 23/09/2025 1 Wed, 24/09/2025 1,23,947.00 5.25
5. Net liquidity injected from today's
16,897.00
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 Fri, 19/09/2025 6 Thu,25/09/2025 59,967.00 5.51
(b) Reverse Repo
3. MSF#
4. SDFΔ#
D. Standing Liquidity Facility (SLF) Availed from RBI$ 10,318.83
E. Net liquidity injected from outstanding operations [injection
70,285.83
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
87,182.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 23, 2025 9,59,344.94
(ii) Average daily cash reserve requirement for the fortnight ending October 03, 2025 9,13,308.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ September 23, 2025 1,40,516.00
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: 2025-2026/1154 Deputy General Manager
(Communications)