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MARKET EYE-Indian cash rates inch lower; CRR cut to help
January 29, 2013 / 10:08 AM / 5 years ago

MARKET EYE-Indian cash rates inch lower; CRR cut to help

* Indian overnight cash rates inch lower to 7.95/8.00
percent from 8.00/8.10 percent as a cut in banks' cash reserve
ratio by the central bank along with a cut in the repo rate is
likely to ease liquidity conditions in the coming days.
* The RBI says the CRR cut which will be effective in the
fortnight beginning Feb. 9, will infuse 180 billion rupees of
cash into the banking system. 
* Traders say demand for funds slightly lower in the second half
of the session, but weighted average rate in the call money
market stays at 8.07 percent. Total call money volumes reported
on the clearing platform stands at 131.23 billion rupees.
* Banks' borrowing from the central bank's repo window also
drops slightly to 913.10 billion rupees from 1.1 trillion rupees
on Monday, suggesting some easing in liquidity conditions.


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