Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 7.70/7.75% compared to 6.80/6.90%, as demand remains usually remains on the higher side at the start of a new reporting fortnight. The rates are expected to be lower in coming days of reporting fortnight since most of the banks must have already fulfilled their fortnightly product requirements.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 14147 crore via 1 day repo window on April 23, 2015, while they borrowed Rs 5136 crore via repo window and parked Rs 5856 crore via reverse repo window on April 22, 2015.
The overnight borrowing rates touched a high and low of 7.80% and 7.10% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 7.61% on Thursday and total volume stood at Rs 23608.56 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.63% on Thursday and total volume stood at Rs 42730.50 crore, so far.
The indicative call rates which closed at 6.80/6.90% 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.
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