Interbank call rates were little changed at 7.90/7.95%, up from its Friday’s close of 7.75/7.85%, as demand picked up with the start of the second week of reporting cycle amidst tight cash condition. Cash crunch is expected to persist up to mid-March as advance tax outflows begin from the system. Further, call rates ended at 7.60/7.65% in illiquid market on Saturday.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 125,860 crore through repo window on February 18, 2013, while banks using LAF facility borrowed Rs 120,120 crore through repo window on February 15, 2013 and parked Rs 15 crore via reverse repo window on the same day.
The overnight borrowing rates touched a high and low of 7.95% and 7.90% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.88% on Monday and total volume stood at Rs 22,426.24 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.76% on Monday and total volume stood at Rs 29,381.15 crore, so far.
The indicative call rates which closed at 7.60/65% on Saturday 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, so far.
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