Date:26/06/2007 URL: http://www.thehindubusinessline.com/2007/06/26/stories/2007062602900600.htm

Back Call rates close at 2.75-3.25%

Our Bureau

Mumbai, June 25

The inter-bank call rates eased to close at 2.75-3.25 per cent on Monday against the previous close of 0.1-0.2 per cent. The Reserve Bank of India received bids worth Rs 61,070 crore through the reverse repo window, under the two sessions of liquidity adjustment while it accepted Rs 3,000 crore.

"The surplus cash has been sucked out by way of auctions and advanced tax outflows," said a dealer with a private bank. In the first one-day reverse repo auction, the RBI received 29 bids for Rs 34,595 crore while it accepted Rs 2,000 crore. In the second one-day reverse repo auction, the central bank received 28 bids for Rs 26,475 crore while it accepted Rs 1,000 crore. There were no repo bids in the first and second one-day auctions. The CBLO market saw 429 trades aggregating Rs 28,963.60 crore in the 0.15 per cent - 4.5 per cent range.