Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading marginally lower at 5.93% from its previous close of 5.94% on Monday, as demand eased in the first week of the reporting fortnight.
The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 450 crore via three days repo window on March 07, 2017, while they borrowed Rs 615 crore via repo window and parked Rs 3803 crore via reverse repo window on March 06, 2017.
The overnight borrowing rates touched a high and low of 6.25% and 4.80% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.55% on Tuesday and total volume stood at Rs 52289.71 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.72% on Tuesday total volume stood at Rs 144279.35 crore, so far.
The indicative call rates which closed at 5.94% 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.
