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The Inter-bank call money rates were higher at of 7.40/50% on Friday from its previous close of 5.50% as demand for funds picked up in the new reporting fortnight. On Saturday, the two-day rate had closed at 7.25/7.30 percent in an illiquid market. Demand is also typically higher in the first part of a new reporting fortnight as most banks prefer to borrow more in the first week to avoid a last-minute scramble for funds.
Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 58,640 crore through repo window and parked Rs 450 crore using reverse repo window on May 20, 2011. While Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 77,350 crore through repo window and parked Rs 435 crore using reverse repo window on May 23, 2011.
The overnight borrowing rates has touched a high of 7.50% and a low of 6.10%, so far.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.41% on Friday and total volume stood at Rs 3,396 crore on the same day.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.21% on Friday and total volume stood at Rs 3,263 crore on the same day.
The indicative call rates which closed at 7.25 /30% on Saturday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered Bank, State Bank of India, Union Bank of India, ING Vysya Bank, BNP Paribas, HDFC Bank, P&S Bank.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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