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[hfe_template id='11223'] [ad_1] Reserve Bank of India's new Governor, Sanjay Malhotra, announced on Friday that the RBI will set up a panel to conduct a comprehensive review of trading and settlement timings for markets regulated by the central bank. At the end of the three-day meeting of the Monetary Policy Committee (MPC), Malhotra stated that a working group, with representation from various stakeholders, will be formed to carry out the review in light of recent developments in financial markets and market infrastructure. The panel will submit its report by April 30th of this year. The RBI acts as a regulator for both the money market and the forex market. "Synchronized and complementary market and settlement timings across various financial market segments can facilitate efficient price discovery and optimize liquidity requirements," the RBI said. Also read | RBI MPC cuts repo rate for first time in 5 years Over the last few years, there have been seve...

[hfe_template id='11223'] [ad_1] Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday. Surplus liquidity in the banking system shrank to ₹84,154.75 crore due to monthly GST outflows. This is akin to a fine-tuning exercise to manage call rates near the repo rate, as monthly tax outflows drew surplus liquidity out of the banking system, money market experts said. The RBI injected funds worth ₹25,000 crore via a variable rate repo auction (VRR) to ensure that recent overseas outflows from local debt and equity do not drive up banks' cost of funds, analysts said. This is the second such auction that the RBI has conducted post its change in stance to neutral from withdrawal of accommodation. On Thursday, surplus liquidity - as measured by absorption of funds by the RBI - dropped to a one-month low of ₹8...