March 7, 2013 / 10:54 AM / in 5 years

MARKET EYE-Indian cash rates inch up; repo borrowing rises

* India's overnight cash rates edge up to 7.95/8.00
percent compared with its previous close of 7.85/7.90 percent as
demand stays high towards the end of the reporting fortnight.
* Traders say service tax payments, usually due around the 10th
of each month, may be the likely reason for the cash deficit
rising yet again.
* Banks' borrowing from the central bank's repo window rises to
632.95 billion rupees from 379.70 billion rupees on Wednesday.
 
* Cash conditions are likely to tighten again over the next
fortnight as corporates make payments towards quarterly advance
taxes due by March 15.
* Total volumes reported on the central bank's trading platform
stand at 129.31 billion rupees at a weighted average rate of
7.77 percent.

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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