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The inter-bank call money rates opened at 7.40% little changed from its previous close of 7.40/50% on Thursday as demand eased after cash from redemption and government spending by way of oil and food subsidies came into the system. Also, some banks had built-up massive positions for the 4-day LAF over the quarter end, so the borrowing lowered now, thereby reducing the call rates. However, the sharp fall of the call rates were unlikely in the first week of the reporting fortnight, due to typical higher demand for the funds from the bank, which avoid last minute rush for fulfilling their mandated requirements.
Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 13,595 crore through repo window on July 08, 2011. While, Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 7,560 crore through repo window on July 07, 2011.
The overnight borrowing rates has touched a high of 7.60% and a low of 7.35%, so far.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.49% on Friday and total volume so far stood at Rs 13,246.00 crore.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.36% on Friday and total volume so far stood at Rs 57,443.80 crore.
The indicative call rates which closed at 7.40/50% on Thursday 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.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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