The overnight borrowing rates touched a high and low of 7.75% and 7.95% respectively
Interbank call rates were trading little higher at 7.80/90% from its previous close of 7.75/80% on Friday, as demand for funds remained higher from banks on account of their strained cash condition post outflows related to advance tax. Overall, the advance tax paid by the 30 leading companies in the fourth quarter is 15 per cent higher, at Rs 11,441 crore, compared to last year. Meanwhile, the call rates ended at 7.85/95% in an illiquid market on Saturday.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 142695 crore through repo window on March 18, 2013, while banks using special LAF facility borrowed Rs 135250 crore through repo window and parked Rs 75 crore via reverse repo window on March 15, 2013.
The overnight borrowing rates touched a high and low of 7.75% and 7.95% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.96% on Monday and total volume stood at Rs 21442.52 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.84% on Monday and total volume stood at Rs 15929.25 crore, so far.
The indicative call rates which closed at 7.85/90% 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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