Truncated timings for markets extended till further notice

Mumbai, April 30 (IANS) The Reserve Bank of India on Thursday said the truncated market timings for the government bond and forex markets among others which come under its regulatory ambit will be maintained beyond April 30 till further notice.

Earlier, the RBI had notified that market activities including the sales and purchase of G-secs will commence by 10 a.m. and end by 2 p.m. from April 7-17 and then extended it further till April 30.

Major segments such as interest rate markets, including Government Securities (G-secs) market and money markets; foreign exchange markets; derivatives on interest rates or prices, repo, foreign exchange rates as well as credit derivatives come under the regulatory ambit of the Reserve Bank.

“There is a likelihood of extension of lockdown in major cities like Mumbai or easing of the restrictions in a limited manner,” the RBI said in a statement.

“In view of persisting operational dislocations and elevated levels of health risks warranting continuing restrictions on movement, work from home arrangements and business continuity plans, it has been decided that the amended trading hours i.e., from 10 a.m. to 2 p.m. for RBI-regulated markets that were effective till the close of business on Thursday April 30, 2020 vide press release dated April 16, 2020 shall be extended till further notice.”

In addition, the RBI said that market trading timings will be reviewed on issuance of directions pertaining to lockdown from the government.

–IANS

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