Interbank call rates were trading higher at 8.25/8.30% against Wednesday’s close of 8.00/8.10%, also higher than repo rate of 8%, as select banks scrambled to fulfill their fortnightly requirements on penultimate session of reporting fortnight amidst tight liquidity in the banking system after advance tax payments.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 21818 crore via repo window on June 26, 2014. It borrowed Rs 18195 crore through repo auction and parked Rs 3199 crore via reverse repo window on June 25, 2014.
The overnight borrowing rates touched a high and low of 8.35% and 8.15% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.23% on Thursday and total volume stood at Rs 24629.11 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.24% on Thursday and total volume stood at Rs 38462.70 crore, so far.
The indicative call rates which closed 8.00/8.10% on Wednesday 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
