Interbank call rates were trading unchanged from its Friday’s close of 9.00/9.05%, near emergency funding rate, on account of prevailing caution ahead of RBI’s quarterly monetary policy review on October 29, amidst the expectation India’s apex bank would hike key interest rates by 25 basis points, while further slashing MSF rate by the same quantum.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 40767 crore through repo window on October 28, 2013, while banks using special LAF borrowed Rs 40866 crore through repo window on October 25, 2013.
The overnight borrowing rates touched a high and low of 9.10% and 8.95% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.99% on Monday and total volume stood at Rs 24235.05 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.98% on Monday and total volume stood at Rs 31487.15 crore, so far.
The indicative call rates which closed at 9.00/9.05% on Friday 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.
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