Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading lower at 8.75/8.80% versus previous close of 9.15/9.20% on Monday as banks had sufficient liquidity to cover their fortnightly requirements, despite being the start of new reporting cycle.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 21127 crore through repo auction on April 22, 2014. The banks via LAF borrowed Rs 18968 crore through repo auction and parked Rs 289 crore via reverse repo window on April 21, 2014.
The overnight borrowing rates touched a high and low of 8.80% and 8.55% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.61% on Tuesday and total volume stood at Rs 27916.51 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.68% on Tuesday and total volume stood at Rs 28358.45 crore, so far.
The indicative call rates which closed 9.15/9.20% on Monday 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
