The Hindu Business Line : Call rates range bound

The inter-bank call rates remained range bound to close at 0.50 - 0.70 per cent on Friday quite similar to the previous close of 0.50 - 0.75 per cent. "There was surplus cash in the system worth about Rs 20,000 crore," said a dealer with a private bank.

The central bank has announced an auction worth Rs 9,000 crore, the outflow of which will take place on Wednesday. "The amount is too small to drain out the excess liquidity from the system," the dealer said. The Reserve Bank of India did not receive any bids through the repo window the whole of this week.

Banks placed bids worth Rs 81,625 crore with the RBI through the reverse repo window while the central bank mopped up bids worth Rs 2,996 crore. In the first three - day reverse repo auction, the apex bank received 35 bids for Rs 44,550 crore while it accepted Rs 1,996 crore. In the second three - day reverse repo auction, it received 32 bids for Rs 37,075 crore while it accepted Rs 1,000 crore. There were no repo bids in the first and second three - day auctions. The CBLO market saw 272 trades aggregating Rs 23,960.55 crore in the 0.01 - 0.13 per cent range.

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