Interbank call rates edged higher at 8.05/10% from its previous close of 7.95/80% on Friday, as demand edged up with the start of fresh reporting cycle. Further, little strained banking liquidity system on account of advance tax outflows, has also pressurized call rates. Moreover, lack of OMO announcement by RBI, also added to the upside pressure.
The third quarter advance corporate tax collection from the top 100 companies from the city has shown a modest 15 per cent growth year-on-year backed by higher payouts by the banking and financial sector, as per reports.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 146,300 crore via repo window on December 17, 2012. Meanwhile, bank’s via LAF borrowed Rs 64,445 crore via repo window, while it borrowed Rs 65,440 crore via 3 days repo auction window and Rs 500 crore via 3 days reverse repo auction on reporting fortnight.
The overnight borrowing rates touched a high and low of 8.10% and 7.95% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.10% on Monday and total volume stood at Rs 14,334.64 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.02% on Monday and total volume stood at Rs 15,406.80 crore, so far.
The indicative call rates which closed at 7.95/80% on Friday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered.
No comments:
Post a Comment