India's central bank extends call money market timing by 2 hours
MUMBAI, June 25 (Reuters) - The Reserve Bank of India on Wednesday extended the trading hours for the interbank call money market by 2 hours to 7:00 p.m. IST, with effect from July 1.
Banks borrow and lend money in the call market.
The revised timings for the call market will be 9:00 a.m. IST to 7:00 p.m. IST.
The central bank also extended the hours for market repo and tri-party repo to 4:00 p.m. IST, with effect from August 1.
In May, a working group set up by the central bank had recommended longer operating hours for the interbank money markets.
The trading hours for government bonds, foreign exchange and interest rate derivative markets have been left unchanged.
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