Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading marginally higher 5.93% from its previous close of 5.92% on Tuesday as banks preferred borrowing for their product requirement in the first week of fresh reporting cycle.
The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 1455 crore via three days repo window on March 22, 2017, while they borrowed Rs 1050 crore via repo window and parked Rs 27550 crore via reverse repo window on March 21, 2016.
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 5.83% on Wednesday and total volume stood at Rs 41009.13 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.84% on Wednesday total volume stood at Rs 150164.90 crore, so far.
The indicative call rates which closed at 5.92% 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.
