Call Rates Ended Considerably Higher - Sep 30, 2008

The inter-bank call rates ended considerably higher at 15.75-16 per cent, as against the previous close of 11-11.50 per cent. The severe liquidity crunch could also be estimated by the fact that the Reserve Bank of India injected more than Rs 90, 000 crore into the system via the repo auction. In the two-day repo auction under the first liquidity adjustment facility (LAF), the RBI got and accepted 36 bids worth Rs 53,940 crore. There were no reverse repo bids. In the CBLO market, there were 300 trades totaling to Rs 12,183.35 crore in the rate range of 9.35-16 per cent.