Friday, October 17, 2008

Call Rates Ease On Slew Of Measures - Oct 17, 2008

Call rates relieved as a slew of steps by the Reserve Bank of India, along with the release of the first instalment of farm loan waiver, injected close to Rs 1,45,000 crore into the system. The rates ended significantly lower at 6.75-7 per cent, against the previous close of 9.75-10 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 1 bid worth Rs 2,500 crore.

In the one-day repo auction under the second LAF, the RBI got and accepted 6 bids for Rs 7,900 crore. In the one-day reverse repo auction under the second LAF, the RBI received and accepted 11 bids for Rs 6,270 crore. Only five banks borrowed Rs 2,270 crore under this scheme. In the CBLO market, there were 463 trades totaling to Rs 25,344.90 crore in the rate range of 1-9.51 per cent.

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