The Hindu Business Line : Call rates climb to 9%

Call rates soared to 8.50 - 9 per cent on Monday against the previous close of 2.25 - 2.50 per cent. "The outflow of Rs 10,000 crore from the government securities auction, drained out surplus cash from the system," said a dealer with a private bank. The Reserve Bank of India lent to banks Rs 16,495 crore through the repo window while banks parked Rs 25 crore under the reverse repo with the central bank.

In the first one - day repo auction, the RBI received and accepted seven bids for Rs 2,650 crore. There was no reverse repo bid in the first one - day auction. In the second one - day reverse repo auction, it received and accepted one bid for Rs 25 crore. In the second one - day repo auction, it received and accepted 29 bids for Rs 13,845 crore. The CBLO market saw 373 trades aggregating Rs 22,007.20 crore in the 7.30 - 8.20 per cent range.

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