Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading lower at 5.93% from its previous close of 5.95% on Tuesday, as demand eased in the second week of the reporting fortnight.
The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 550 crore via three days repo window on March 01, 2017, while they borrowed Rs 1400 crore via repo window and parked Rs 22315 crore via reverse repo window on February 28, 2017.
The overnight borrowing rates touched a high and low of 6.25% and 5.00% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.68% on Wednesday and total volume stood at Rs 42265.41 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.87% on Wednesday total volume stood at Rs 125795.40 crore, so far.
The indicative call rates which closed at 5.95% 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.
