Major developments in money market since 1990s

Maulik Tewari | Updated on January 27, 2013 Published on January 27, 2013

Maturity of commercial paper and certificates of deposits cut short in 1994 and 1995

Ad hoc treasury bills abolished in April 1997.

Liquidity adjustment facility, a window for banks to borrow/lend, fully operational by June 2000.

CBLO for companies to borrow 1 day to 1-year funds, introduced in 2003

Prudential limits on bank and primary dealer exposure to call market, imposed in April 2005.

Transformation of call money market into a pure inter-bank market by August 2005

State government securities made eligible for collateral under LAF operations in April 2007

Screen-based negotiated system (NDS-CALL) for all dealings in the call and the term money markets goes live in September 2006. The reporting of all such transactions made compulsory through NDS-CALL in November 2012.

Repo in corporate bonds allowed in March 2010.

Reporting platform for secondary market transactions in commercial paper and certificates of deposit made operational in July 2010.

Published on January 27, 2013
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