Business News | RBI Extends Call Money Market Timing by 2 Hours; Gsec, Forex, Interest Rate Derivatives Unchanged
Get latest articles and stories on Business at LatestLY. The Reserve Bank had set up a Working Group with Radha Shyam Ratho as the Chairperson. The Working Group was mandated to undertake a comprehensive review of trading and settlement timings of financial markets regulated by the central bank.
Mumbai (Maharashtra) [India], June 25 (ANI): The Reserve Bank of India (RBI) has extended the trading hours for the interbank call money to 7:00 pm.
The two-hour extension will come into effect from July 1. The revised market hours shall be from 9:00 am to 7:00 pm.
Banks borrow and lend money in the call market.
The RBI also extended the trading hours of market repo and Tri-Party Repo (TREP) to 4:00 PM, set to be effective from August 01. Accordingly, the revised trading hours shall be from 9:00 am to 4:00 pm.
However, the trading hours for the Government securities market, the foreign exchange market, and the interest rate derivatives market have been kept unchanged.
The Reserve Bank had set up a Working Group with Radha Shyam Ratho as the Chairperson.
The Working Group was mandated to undertake a comprehensive review of trading and settlement timings of financial markets regulated by the central bank.
The Working Group provided recommendations aimed at facilitating further market development, price discovery, and optimisation of liquidity requirements.
Its report was published on the RBI's website, inviting comments from members of the public.
The Reserve Bank has subsequently examined the recommendations of the Committee as well as the feedback received, before recommending the fresh market timings.
Other recommendations of the Working Group are under consideration,n and the decisions thereon will be taken in due course, RBI said today. (ANI)
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