**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI), dated September 25, 2025, detailing the money market operations as of September 24, 2025. It includes information on volumes, weighted average rates, and ranges for various money market segments and RBI operations. It also presents cash reserve positions for scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations:**
* **Overnight Segment:** Total volume is ₹6,64,689.51 Crore, with a weighted average rate of 5.47% and a range of 4.75-6.50%. This includes call money, triparty repo, market repo, and repo in corporate bonds.
* **Term Segment:** Details on notice money, term money, triparty repo, market repo, and repo in corporate bonds are provided, including volumes and rates.
* **RBI Operations:**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Today's and Outstanding operations are detailed, including fixed and variable rates, auction dates, tenor, maturity dates, and amounts.
* ₹48,980.00 Crore of Repo under Main Operation at 5.51%
* ₹403.00 Crore of Reverse Repo under Main Operation at 5.75%
* ₹93,350.00 Crore of MSF at 5.25%
* **Net Liquidity Injection:**
* Net liquidity injected from today's operations: -₹43,967.00 Crore.
* Net liquidity injected from outstanding operations: ₹70,285.83 Crore.
* Net liquidity injected (outstanding including today’s operations): ₹26,318.83 Crore.
* **Standing Liquidity Facility (SLF):** ₹10,318.83 Crore was availed from RBI.
* **Cash Reserves Position:**
* Cash balances with RBI as on September 24, 2025: ₹9,17,932.26 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 05, 2025: ₹48,980.00 Crore.
* Net durable liquidity [surplus (+)/deficit (-)] as on September 05, 2025: ₹4,66,312.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks need to be aware of the current rates and volumes in the money market, as well as the RBI's operations, to manage their liquidity and funding positions effectively. The cash reserve position data is also relevant to their regulatory compliance.
* **Action Required:** Banks should adjust their strategies for borrowing and lending in the money market based on the information provided in the press release. They should also ensure they meet the required cash reserve ratios.
Key Entities Referenced
Reserve Bank of India (RBI): India's central bank, responsible for regulating the money supply and credit system.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the banking system 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 eligible government securities.
Standing Deposit Facility (SDF): Tool used by RBI, an uncollateralized deposit facility to absorb liquidity from the market.
Money Market: Refers to trading in short-term debt instruments.
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 25, 2025
Money Market Operations as on September 24, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,64,689.51 5.47 4.75-6.50
I. Call Money 16,046.55 5.52 4.75-5.60
II. Triparty Repo 4,40,642.70 5.45 5.16-5.70
III. Market Repo 2,03,860.71 5.49 5.00-5.80
IV. Repo in Corporate Bond 4,139.55 5.71 5.64-6.50
B. Term Segment
I. Notice Money** 147.50 5.38 5.00-5.51
II. Term Money@@ 511.00 - 5.45-5.90
III. Triparty Repo 4,956.25 5.63 5.40-5.72
IV. Market Repo 97.38 5.75 5.75-5.75
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 Wed, 24/09/2025 1 Thu, 25/09/2025 48,980.00 5.51
(b) Reverse Repo
3. MSF# Wed, 24/09/2025 1 Thu, 25/09/2025 403.00 5.75
4. SDFΔ# Wed, 24/09/2025 1 Thu, 25/09/2025 93,350.00 5.25
5. Net liquidity injected from today's
-43,967.00
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
26,318.83
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 24, 2025 9,17,932.26
(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 24, 2025 48,980.00
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: 2025-2026/1163 Deputy General Manager
(Communications)