Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 7.45/7.50% compared to 7.30/7.40%, as demand remained on the higher side on the last trading session of holiday truncated reporting fortnight. Money markets will remain close on May 1 on account of ‘Maharashtra Day’.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 19028 crore via 1 day repo window on April 30, 2015, while they borrowed Rs 18838 crore via repo window and parked Rs 13678 crore via three days reverse repo window on April 29, 2015.
The overnight borrowing rates touched a high and low of 8.50% and 7.20% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 7.59% on Thursday and total volume stood at Rs 33330.29 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.84% on Thursday and total volume stood at Rs 27495.00 crore, so far
The indicative call rates which closed at 7.30/7.40% 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.
