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RBI’s Money Market Moves: Banks’ Cash Balances Hit ₹9.57 Trillion as Government Surplus Remains Tight

Updated: May 14, 2025 09:07

Image Source: Analytics Steps
India’s money market saw robust activity on May 13, 2025, with the Reserve Bank of India (RBI) releasing key data that highlights the liquidity dynamics in the banking system and government finances.
 
Key Highlights:
 
Scheduled commercial banks held cash balances of ₹9.57 trillion with the RBI, reflecting strong liquidity buffers in the system as of May 13.
 
The Government of India’s surplus cash balance with the RBI, available for auction, stood at ₹54.01 billion, indicating limited excess funds at the government’s disposal for short-term liquidity management.
 
The RBI provided ₹8.71 trillion in refinance facilities, supporting banks’ liquidity requirements and ensuring smooth operations in the money market.
 
Indian banks borrowed ₹1.54 billion through the Marginal Standing Facility (MSF) on May 13, a window that allows banks to access overnight funds from the RBI at a higher rate, typically used to meet short-term mismatches.
 
Money market operations on May 13 featured a weighted average overnight segment rate of 5.70%, with call money, triparty repo, and market repo volumes collectively exceeding ₹6 trillion, underscoring active interbank lending and borrowing.
 
The RBI continues to play a pivotal role in balancing liquidity through instruments such as the Liquidity Adjustment Facility (LAF), MSF, and Standing Deposit Facility (SDF), ensuring stability in interest rates and market functioning.
 
Sources: The Week, Reserve Bank of India, Ministry of Statistics and Programme Implementation

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