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The Inter-bank call money rates were at 7.40/7.45% stronger from Wednesday's close of 7.30/40% due to firm demand in the first week of the reporting fortnight. The call rates are expected to remain consistently high at this level until the monetary policy review on June 16. The market widely expects the central bank to raise rates by another 25 basis points when it meets to review monetary policy. Further, dealers expect outflows related to corporate' advance tax payment due in mid-June to further pressure liquidity, thereby causing the rates to soar higher.
Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 85,720 crore through repo window and parked Rs 630 crore using reverse repo window on May 26, 2011. While Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 73,390 crore through repo window and parked Rs 555 crore using reverse repo window on May 25, 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 7.38% on Wednesday and total volume stood at Rs 13,984 crore on the same day.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.25% on Wednesday and total volume stood at Rs 43,375 crore on the same day.
The indicative call rates which closed at 7.30/40% on Wednesday 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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