Call rates edge higher on last trading session of reporting fortnight

Interbank call rates were trading higher at 7.95/8.00% from its previous close of 7.05/7.10% on Wednesday as demand from banks picked up pace on last trading session of reporting fortnight, with money market remaining shut for trade on April 18 in observance of local holiday on account of Good Friday. The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 3728 crore through repo auction on April 17, 2014. The banks via LAF borrowed Rs 12207 crore through repo auction and parked Rs 8827 crore via reverse repo window on April 16, 2014. The overnight borrowing rates touched a high and low of 8.15% and 7.70% respectively. According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.08% on Thursday and total volume stood at Rs 4235298 crore, so far. As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.52% on Thursday and total volume stood at Rs 13358.45 crore, so far. The indicative call rates which closed 7.05/7.10% on Wednesday 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