The Hindu Business Line : Call rates ease to close at 10-15%

Mumbai March 22 After remaining at the nine-year high for two days, call rates eased to close at 10-15 per cent on Thursday against the previous close of 60 per cent. "The bank union's calling off their strike and RBI's notification allowing the utilisation of funds from RBI's repo window in the call money market has worked positively," said a dealer with a private bank.

"Call may go below 10 per cent," he added.

Banks borrowed Rs 39,550 crore from the RBI through its repo window. In the first one-day repo auction, the RBI received and accepted 34 bids for Rs 29,035 crore, there was no reverse repo bid in the first one day.

In the second one-day reverse repo auction, the RBI received and accepted one bid for Rs 10 crore, while in the second one - day repo auction, the RBI received and accepted 24 bids for Rs 10,515 crore.

The CBLO market saw 369 trades aggregating to Rs 15,528.40 in the 7.24-11 per cent range.

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