**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated September 29, 2025, reports on money market operations as of September 26, 2025. It provides data on overnight and term segment transactions, RBI operations including LAF, MSF and SDF, and reserve positions of scheduled commercial banks. The release also includes data on net liquidity adjustments.
**Key Points / Main Content**
* **Money Market Operations (September 26, 2025):**
* **Overnight Segment:** Total volume of ₹6,65,281.36 Crore with a weighted average rate of 5.48% (range: 4.75-6.60%).
* **Term Segment:** Includes details on notice money, term money, triparty repo, market repo, and repo in corporate bond.
* **RBI Operations (Today's Operations):**
* **Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF):** Details transactions including variable rate Repo, Reverse Repo and SDF.
* Variable rate MSF had an amount of ₹90,931.00 Crore with a cut-off rate of 5.51%.
* Variable rate SDF had an amount of ₹1,33,472.00 Crore with rate of 5.25%.
* Net liquidity injected from today's operations is ₹-56,274.00 Crore.
* **RBI Operations (Outstanding Operations):**
* Data reported is for Fixed Rate and Variable Rate, including Main Operation, Fine Tuning Operations, MSF and SDFA.
* Standing Liquidity Facility (SLF) Availed from RBI amounted to ₹10,483.83 Crore
* Net liquidity injected from outstanding operations is ₹10,483.83 Crore.
* Net liquidity injected (outstanding including today's operations) is ₹-45,790.17.
* **Reserve Position:**
* Cash balance of scheduled commercial banks with RBI as on September 26, 2025, is ₹9,04,306.84 Crore.
* Average daily cash reserve requirement for the fortnight ending October 03, 2025, is ₹9,13,308.00 Crore.
* Government of India Surplus Cash Balance Reckoned for Auction as on September 26, 2025, is ₹90,931.00 Crore.
* Net durable liquidity as on September 05, 2025, is ₹4,66,312.00 Crore.
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks are directly affected by the money market operations and liquidity adjustments outlined in the report.
* **Action Required:** Banks need to manage their cash reserves and liquidity positions in accordance with the RBI's operations and requirements. They must also monitor interest rates and market conditions to effectively participate in the money market.
Key Entities Referenced
Reserve Bank of India: Central bank of India, regulator of the money market operations
Liquidity Adjustment Facility (LAF): Tool used by 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): A tool which allows the RBI to absorb liquidity from the commercial banks without any collateral.
Money Market: Deals with short-term debt instruments. RBI regulates various segments like call money, repo, etc.
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 29, 2025
Money Market Operations as on September 26, 2025
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 6,65,281.36 5.48 4.75-6.60
I. Call Money 16,315.66 5.58 4.75-5.75
II. Triparty Repo 4,36,553.35 5.44 5.15-5.55
III. Market Repo 2,08,130.30 5.56 5.00-5.80
IV. Repo in Corporate Bond 4,282.05 5.76 5.69-6.60
B. Term Segment
I. Notice Money** 1,173.20 5.71 5.00-5.75
II. Term Money@@ 410.00 - 5.60-6.35
III. Triparty Repo 9,037.00 5.89 5.30-6.00
IV. Market Repo 479.85 5.50 5.50-5.50
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, 26/09/2025 4 Tue, 30/09/2025 90,931.00 5.51
(b) Reverse Repo
3. MSF# Fri, 26/09/2025 1 Sat, 27/09/2025 131.00 5.75
Fri, 26/09/2025 2 Sun, 28/09/2025 0.00 5.75
Fri, 26/09/2025 3 Mon, 29/09/2025 254.00 5.75
4. SDFΔ# Fri, 26/09/2025 1 Sat, 27/09/2025 1,33,472.00 5.25
Fri, 26/09/2025 2 Sun, 28/09/2025 0.00 5.25
Fri, 26/09/2025 3 Mon, 29/09/2025 14,118.00 5.25
5. Net liquidity injected from today's
-56,274.00
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$ 10,483.83
E. Net liquidity injected from outstanding operations [injection
10,483.83
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-45,790.17
operations) [injection (+)/absorption (-)]*
RESERVE POSITION@
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on September 26, 2025 9,04,306.84
(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 26, 2025 90,931.00
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: 2025-2026/1187 Deputy General Manager
(Communications)