The Hindu Business Line : Call ends higher at 2-2.25%

The inter-bank call rates rose to their highest in a month to close at 2-2.25 per cent on Friday, higher than the previous close of 0.1-0.3 per cent, as banks were borrowing funds ahead of a 50-basis points hike in the Cash Reserve Ratio. The overnight call rates rose in anticipation of a possible cash crunch, with the CRR hike coming into effect this weekend. The Reserve Bank of India received bids worth Rs 1,04,630 crore through the reverse repo window under the two sess ions of Liquidity Adjustment Facility while it accepted bids to the tune of Rs 2,997 crore. The central bank did not receive any bid through the repo window. In the first one-day reverse repo auction, the RBI received 28 bids for Rs 59,630 crore while it accepted bids for Rs 1,996 crore. In the second one-day reverse repo auction, the central bank received 28 bids for Rs 45,000 crore while it accepted bids for Rs 1,001 crore. There were no repo bids in the first and second one-day auctions. The CBLO market saw 229 trades aggregating to Rs 21,823.15 crore in the 0.01-5 per cent range. —

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