January 10, 2013 / 9:04 AM / in 5 years

MARKET EYE-Indian repo borrowings surge on tax-related outflows

* Overnight call rate at 8.10/8.15 percent versus
previous close of 8.05/8.10 percent after banks' repo borrowings
cross 1 trillion rupees for the first time in seven sessions,
which dealers peg on outflows related to taxes. 
* Outflows around 400 billion rupees are estimated to have left
the banking system related to service tax, excise and customs
duties.
* Total volume on the central bank's electronic trading platform
stands at 186.84 billion rupees at a weighted average rate of
8.10 percent while that in the CBLO market stands at 329.37
billion rupees at a weighted average rate of 8.00 percent. 

 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

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