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Call rates steady at previous closing level on Thursday

24 Jan 2013 Evaluate

Interbank call rates were trading steady at 8.05/8.00% from previous close of 8.00/8.10% on Wednesday, as demand started receding in the first week of the reporting fortnight. Indian banks’ repo borrowings continued to remain high, reflecting higher government balances with the central bank, widening gap between credit and deposit growth.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 53,025 crore through repo window on January 24, 2013, while by using LAF facility borrowed Rs 95,525 crore via repo window and parked Rs 5 crore via reverse repo window on January 23, 2013.

The overnight borrowing rates touched a high and low of 8.10% and 7.95% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.98% on Thursday and total volume stood at Rs 27,606.94 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.42% on Thursday and total volume stood at Rs 8,311.25 crore, so far.

The indicative call rates which closed at 8.00/8.10% 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. 

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