(14 Nov 2024, 17:44)

Trends in money market and Gsec market have remained stable despite spillovers from global markets

Shaktikanta Das, Governor, Reserve Bank of India noted in a speech that money market and government securities market – they have remained stable despite large swings and spillovers from global markets. The weighted average call money rate has remained rangebound within the liquidity adjustment facility (LAF) corridor and closely aligned to the policy repo rate. The 10-year G-sec yield has also moved in a narrow range of 6.72 to 7.61 per cent during the tightening cycle amidst global policy pivot, fluctuations in US treasury yields and global crude prices. The Reserve Bank has undertaken several regulatory measures in recent years to ensure resilience and stability of the financial markets. These include: putting in place regulatory frameworks for benchmark administrators and electronic trading platforms; robust governance requirements for market makers in OTC derivative markets; and margin requirements for non-centrally cleared derivative reforms.

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Trends in money market and Gsec market have remained stable despite spillovers from global markets