CALL RATES CLOSE AT 5-6 PER CENT
Article Abstract:
Call rates closed at 5-6 percent in the inter-bank call money market on October 9, 1998. The fall in call rates was due to the low demand for funds from banks. The call rates opened in the same 5-6 percent rate of export refinance offered by the Reserve Bank of India (RBI). With call rates ruling easy, the 8 percent fixed rate repo of RBI raised Rs2,508 crore through 14 bids. The total outstanding amount under repos has increased to Rs7,500 crore. (gs) e of the 4 heads of the newly formed strategic units will report to Rajiv Sinha. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVT WITHDRAWALS UNDER WMA RISE TO Rs3,820 CR
Article Abstract:
The ways and means advances (WMA) is a withdrawal facility offered by the Reserve Bank of India (RBI) to the Government of India. The WMA were Rs3,820 crore on October 2, 1998 (Rs1,331 crore in the previous week). Under the agreement between RBI and the Government, the limit on WMA is Rs11,000 crore. If the outstanding under the WMA is over 75 percent of the limit, then the Government has to issue dated government securities in a week of the stipulated period. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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