India Money Market Operations – July 7, 2025

This report provides a comprehensive overview of the Indian money market operations as of July 7, 2025. It covers key metrics and activities across various segments, offering insights into the liquidity conditions and prevailing interest rates.

Money Market Segments

Trading in the money market was brisk, with significant volumes observed in both the overnight and term segments. The overnight segment saw a weighted average rate of 5.14%, reflecting the overall cost of short-term borrowing. Let’s break down the activity:

Overnight Segment

Call Money: ₹17,060.89 crore at a weighted average rate of 5.26%
Triparty Repo: ₹4,00,746.10 crore at a weighted average rate of 5.11%
Market Repo: ₹1,92,328.36 crore at a weighted average rate of 5.18%
Repo in Corporate Bond: ₹3,144.65 crore at a weighted average rate of 5.42%

Term Segment

Notice Money: ₹167.35 crore at a weighted average rate of 5.19%
Term Money: ₹1,465.00 crore at a rate range of 5.30-5.70%
Triparty Repo: ₹1,375.00 crore at a weighted average rate of 5.23%
Market Repo: ₹1,283.93 crore at a weighted average rate of 5.32%
Repo in Corporate Bond: No transactions reported.

RBI Operations and Liquidity Management

The Reserve Bank of India (RBI) played an active role in managing liquidity through various instruments, including the Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), and Standing Deposit Facility (SDF).

Key RBI Interventions

MSF: ₹1,051.00 crore accessed at a rate of 5.75%
SDF: ₹2,50,865.00 crore deposited at a rate of 5.25%
Net Liquidity Injection (Today’s Operations): -₹2,49,814.00 crore (net absorption)
Outstanding Reverse Repo Operations: ₹1,00,010.00 crore outstanding at a rate of 5.47%
Standing Liquidity Facility (SLF) Availed: ₹5,987.11 crore

Reserve Position of Scheduled Commercial Banks

The cash reserve position of scheduled commercial banks offers a snapshot of their liquidity holdings with the RBI:

Cash Balances with RBI: ₹9,30,865.97 crore as of July 7, 2025
Average Daily Cash Reserve Requirement: ₹9,52,318.00 crore for the fortnight ending July 11, 2025

Data sourced from the Reserve Bank of India (RBI) and Clearing Corporation of India Limited (CCIL).