The Inter-bank call money rates opened at 7.50/55%, substantially higher from Monday’s close of 7.25/35% as the demand was typically higher at the start of the new reporting fortnight since banks borrow more than their mandated requirements to avoid a last minute scramble for funds. However, the call rates are unlikely to see any sharp up move after this as the liquidity in the system is comfortable since most of the banks are on lending side.
Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 14,750 crore through repo window and Rs 170 crore via reverse repo window on July 05, 2011. While, banks via Liquidity Adjustment Facility (LAF) borrowed Rs 31,355 crore through repo window and Rs 2,850 crore via reverse repo window on July 04, 2011.
The overnight borrowing rates has touched a high of 7.60% and a low of 7.50%, so far.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.55% on Tuesday and total volume so far stood at Rs 15,374.00 crore.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.41% on Tuesday and total volume so far stood at Rs 42,120.15 crore.
The indicative call rates which closed at 7.25/35% 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 Bank, State Bank of India, Union Bank of India, ING Vysya Bank, BNP Paribas, HDFC Bank, P&S Bank.
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