RBI extends trading hours back to pre-pandemic levels to restore normalcy in liquidity operations

RBI had altered trading hours back in April 2020 as the pandemic struck India.

FPJ Web DeskUpdated: Wednesday, December 07, 2022, 07:02 PM IST
article-image
PTI: Representative Image

The pandemic that struck India in April 2020, led to a lot of drastic changes to everyday life with work from home becoming a norm among other digital trends. The stock market and others regulated by the RBI remained operational, although timings and the way things work had to be tweaked. But as the pandemic’s impact is ebbing, the Reserve Bank of India has decided to restore timings to the way they were.

What will change?

With the extension of trading hours, the money market under RBI will be open from trading from 9:00 AM to 5:00 PM, which is a one and a half hour more than 3:30 PM now. The same timings will apply to the commercial paper and certificates of deposit market, as well as Rupee Interest Rate Derivative market. The changes will come into effect from December 12, 2022, which is eight months after changes were made in April 2022.

What will be affected?

The move is a part of measures to bring back normalcy into liquidity operations. The money market refers to a space for securing short-term funds which can be for a day or for a year. On the other hand certificate of deposits are issued by financial institutions and corporations to raise funds.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

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

RECENT STORIES

Ashneer Grover accuses BharatPe co-founder of biggest data theft in India

Ashneer Grover accuses BharatPe co-founder of biggest data theft in India

Layoff season: JPMorgan fires hundreds of mortage employees after hiring announcement

Layoff season: JPMorgan fires hundreds of mortage employees after hiring announcement

Earnings 2023 LIVE: IRCTC net profit at Rs 25,552 cr; Adani Total Gas Limited net profit at Rs...

Earnings 2023 LIVE: IRCTC net profit at Rs 25,552 cr; Adani Total Gas Limited net profit at Rs...

Morgan Stanley strips Adani stocks of free float status, Hindenburg calls it validation of its...

Morgan Stanley strips Adani stocks of free float status, Hindenburg calls it validation of its...

Rupee settles flat at 82.54 against dollar

Rupee settles flat at 82.54 against dollar