Call money ends stronger at 9.50-10.50 per cent

Mumbai, Apr 16 (UNI) Increased borrowing requirements of banks with fresh CRR directions made a strong impact on the call rates today pushing it further to end at 9.50-10.50 per cent, substantially higher than the previous closing level of 5.00-5.25 per cent on last Friday.

The LAF window received just 3 bids worth Rs 220 crore for reverse repos while, 35 bids for Rs 13,815 crore were received for repos, indicating the cash crunch faced by most banks.

In the CBLO segment, 424 bids worth Rs 16,748 crore traded in the range of 3.05-9.50 per cent.

Call rates are expected to hover around the current level with upcoming bond auction worth Rs 3,000 crore is expected to put more pressure, dealers said.

UNI