In the forwards market, the 6-month premium closed
at 0.47 per cent (0.53 per cent) and the 12-month premium
ended at 0.42 per cent (0.45 per cent).
The 7.37 per cent-9 year-2014 paper closed
at Rs102.50 (6.97 per cent YTM). On Friday, it had closed
at Rs102.46 (6.98 per cent YTM). The 7.49 per cent-12
year-2017 paper, that was recently auctioned, opened
at Rs101.54 (7.29 per cent YTM), went up to Rs101.71 and
ended at Rs101.58 (7.28 per cent YTM). It had ended trade
on Friday at Rs101.49 (7.29 per cent YTM).
rates: The call rates closed at 6.30-6.50 (6.75 per
Repo: In the two-day reverse repo, under the LAF,
the RBI received and accepted six bids amounting to Rs835
crore. In the two-day repo auction, the RBI received and
accepted three bids amounting to Rs1,900 crore.
In the CBLO market, there were 297 trades for Rs11,270.90
crore in the rate range of 6.10-6.35 per cent.
to regulate credit cards, financial transactions
Delhi: The government is planning to give more powers
to the Reserve Bank of India to regulate and oversee various
payment and settlement systems including that of credit
finance ministry has finalised the draft payment and settlement
Bill, to be introduced in the winter session of Parliament
beginning on November 23. Official sources said, the Bill
would also enable RBI to regulate entities like the Clearing
Corporation of India.
With the law in place, finality of financial settlements
would be backed by a statute.
say at present, all payments are carried out on a contractual
basis and there is no legal teeth to the financial transaction
and settlement system in the country. Though there has
been no major disruption in the system, the Bill would
ensure that such a disaster never occurred.
law would also enable RBI to authorise payment systems,
revoke authorisation and debar system providers from operating
sub-standard payment. RBI can also issue standards of
access and levy penalty.
from credit card issuers, payment associations like Mastercard
and Visa would also be under the RBI lens and with the
law in place, RBI would also get the power to give directions
to these companies in various matters, like risk mitigation.
The finance ministry is currently awaiting the law ministry's
nod on the issue.