(LiveMint)
The Reserve Bank of India on Friday announced a change in debt money market timings from the existing 9 am-5 pm to 10 am-2 pm, in view of the lockdown. The new arrangement will come into effect on 7 April and continue till 17 April.
“The resultant dislocations have adversely impacted the functioning of financial markets. Staff and IT resources have been severely affected, posing operational and logistic risks. The thinning out of activity is impacting market liquidity and increasing volatility of financial prices,” the RBI said in a press release.
The new timings stand revised for all markets, including call money, market repo, tri-party repo, commercial paper and certificate of deposits, repo in corporate bonds, government securities, forex market and rupee interest rate derivatives.
