RBI extends truncated market hours till extra survey

The central bank curtailed the hours to minimise an infection risks and abolish obvious market participants maintained passable checks and supervisory controls.

The Reserve Monetary institution of India (RBI) on April 30 announced the extension of amended hours for the market regulated by it.

“…the amended trading hours i.e., from 10.00 am to 2.00 pm for RBI-regulated markets that were effective till the shut of business on April 30, 2020, will seemingly be prolonged till extra survey,” the central bank stated an announcement.

“Market trading timings will seemingly be reviewed on the issuance of directions touching on lockdown from the authorities.”

RBI-regulated markets contain, ‘call/survey/duration of time money’, ‘market repo in authorities securities’, ‘industrial paper and certificates of deposit’, ‘repo in company bonds’, ‘authorities securities’, ‘distant places currencies (FCY)/Indian Rupee (INR) trades’ and ‘Rupee Curiosity Price Derivatives’.

The central bank stated there became once a likelihood of an extension of lockdown in essential cities treasure Mumbai or easing of the constraints in a small manner and the decision became once taken keeping “persisting operational dislocations and elevated ranges of successfully being risks warranting continuing restrictions on movement, abolish a residing from dwelling arrangements and industrial continuity plans” in mind.

The RBI curtailed timings to minimise risks and to abolish obvious market participants maintained passable checks and supervisory controls while optimising skinny sources.

As per the revised timings, the RBI regulated market opens at 10 am as a change of earlier 9 am. The closing timings, too, had been revised to 2 pm for all segments.

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First Published on Apr 30, 2020 02: 24 pm

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