Interbank call rates, the rates at which banks borrow short-term funds from each other, was trading higher at 6.04% from its previous close of 5.97% on Wednesday, as demand remained strong on the penultimate session of reporting cycle amidst tight liquidity in the banking system.
The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 650 crore via three days repo window on March 16, 2017, while they borrowed Rs 860 crore via repo window and parked Rs 29470 crore via reverse repo window on March 15, 2017.
The overnight borrowing rates touched a high and low of 6.25% and 5.05% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.87% on Thursday and total volume stood at Rs 35525.83 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.10% on Thursday total volume stood at Rs 103972.50 crore, so far.
The indicative call rates which closed at 5.97% on Wednesday, 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.
