Reserve Bank of India (RBI)
Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) on Thursday announced the extension of amended hours for the market regulated by it. The RBI has amended trading hours from 10 am to 2.00 pm for money market instruments, until further notice.

“There is a likelihood of an extension of lockdown in major cities like Mumbai or easing of the restrictions in a limited manner,” RBI said in a release.

The central bank said in view of persisting operational dislocations and elevated levels of health risks warranting continuing restrictions on movement, work from home arrangements and business continuity plans, it has decided that the amended trading hours i.e., from 10.00 am to 2.00 pm for RBI-regulated markets that were effective till the close of business on Thursday, April 30, 2020, vide press release dated April 16, 2020, shall be extended till further notice.

“Market trading timings will be reviewed on the issuance of directions pertaining to lockdown from the Government,” RBI said.

The Reserve Bank of India (RBI) on Thursday extended the regulatory benefits announced under the SLF-MF scheme to all banks, irrespective of whether they avail funding from the Central Bank or deploy their own resources. The RBI announced a special liquidity facility for mutual funds (SLF-MF) worth Rs 50,000 crore on Monday to ease liquidity in the segment, which intensified in the wake of redemption pressures related to the closure of some debt MFs and potential contagious effects.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal