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Call rates edge lower despite the start of fresh reporting fortnight
03:28 PM 20-Mar-2017
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Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading lower at 6.05% from its previous close of 6.12% on Friday, as demand eased in the first day of new reporting cycle.  However, the rates could edge higher in the coming days as banks usually prefer borrowing for their fortnightly requirements in the first week of reporting fortnight to avoid the volatility of rates going further.

The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 1115 crore via three days repo window on March 20, 2017, while they borrowed Rs 1597 crore via repo window and parked Rs 30812 crore via reverse repo window on March 17, 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 5.90% on Monday and total volume stood at Rs 42765.82 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.96% on Monday total volume stood at Rs 153072.05 crore, so far.

The indicative call rates which closed at 6.12% 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.