Interbank call rates were trading steady for second consecutive session at 8.00/05% as compared to previous close of 8.00/10% on Tuesday, as demand for funds from banks were largely stable despite the start of a new reporting cycle amid easy cash situation. Expectation that Reserve Bank of India, would conduct an open market operations to ease liquidity if cash conditions get squeezed yet again, also kept a lid on the surge of the rates.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 42,070 crore through repo window on July 19, 2012. Banks using LAF borrowed Rs 51,840 crore through repo window on July 18.
The overnight borrowing rates has touched a high of 8.15% and a low of 8.00%, so far.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.07% on Thursday and total volume stood at Rs 15859.58 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.00% on Wednesday and total volume stood at Rs 29515.55 crore, so far.
The indicative call rates which closed at 8.00/05% 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 Bank, State Bank of India, Union Bank of India, ING Vysya Bank, BNP Paribas, HDFC Bank, P&S Bank.
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