Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.99% from its previous close of 6.98% on Tuesday, as demand remained marginally at a higher side in the second half of the reporting fortnight as banks borrow more than their mandated requirement in the first week to avoid a last minute scramble for funds.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 17549 crore via three days repo window on November 26, 2015, while they borrowed Rs 21856 crore via repo windowand parked Rs 2935 crore via reverse repo window on November 24, 2015.
The overnight borrowing rates touched a high and low of 7.15% and 6.60% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.85% on Thursday and total volume stood at Rs 31292.50 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.90% on Thursday and total volume stood at Rs 28055.30 crore, so far.
The indicative call rates which closed 6.98% on Tuesday, 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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