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Call rates edge marginally higher on Thursday

13 Oct 2016 Evaluate

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher 6.21% from its previous close of 6.18% on Monday 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.

The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 18016 crore via three days repo window on October 13, 2016, while they borrowed Rs 8010 crore via repo window and parked Rs 3946 crore via reverse repo window on October 10, 2016. 

The overnight borrowing rates touched a high and low of 6.40% and 5.20% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.20% on Thursday and total volume stood at Rs 40959.65 crore, so far.   

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.26% on Thursday and total volume stood at Rs 105894.15 crore, so far.    

The indicative call rates which closed at 6.18% 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, so far.

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