Master Circular on Call/Notice Money Market Operations
This circular outlines the guidelines for call/notice money market operations in India.
Participants: The circular applies to all scheduled commercial banks, co-operative banks, and primary dealers, excluding Regional Rural Banks (RRBs).
Prudential Limits: The circular sets out prudential limits for transactions in the call/notice money market, including borrowing and lending limits for different participants.
Interest Rate: The interest rate for call/notice money market transactions will be determined by the market forces of demand and supply.
Dealing Session: The dealing session for call/notice money market transactions will be from 9:00 am to 5:00 pm on all working days.
Documentation: All call/notice money market transactions must be documented, and the documents must be preserved for a minimum period of 8 years.
Reporting Requirement: Participants are required to submit reports on their call/notice money market transactions to the Reserve Bank of India (RBI) on a regular basis.
Annexes: The circular includes three annexes: Annex I lists the institutions permitted to participate in the call/notice money market, Annex III provides definitions of key terms, and the Appendix lists the circulars consolidated in this master circular.
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Download: Master Circular on Call/Notice Money Market Operations