RBI extends market timings for call money till 7 pm effective July 1

Mumbai: The market timings for call money will be extended by two hours to 7 pm with effect from July 1, the Reserve Bank of India said on Wednesday.

The Reserve Bank of India (RBI) had set up the Working Group under Chairperson of Radha Shyam Ratho to undertake a comprehensive review of trading and settlement timings of financial markets regulated by the central bank.

Based on the recommendations of the committee as well as the feedback received, the RBI decided to change the market timings for call money to 7 pm with effect from July 1, 2025.

"Accordingly, the revised market hours shall be from 9:00 AM to 7:00 PM," it said.

Also, the trading hours of market repo and Tri-Party Repo (TREP) shall be extended to 4:00 PM with effect from August 1, 2025.

The revised trading hours shall be from 9:00 am to 4:00 pm.

Currently, the market repo and TREP segments close at 2:30 pm and 3:00 pm, respectively, whereas the call money market closes at 5:00 pm.

The call money market, which is accessed exclusively by banks and standalone primary dealers (SPDs), is generally tapped for liquidity adjustment facilities.

The overnight money market in India is the most liquid segment of the market and comprises the uncollateralised (call money) and collateralised (market repo and TREP) segments.

The RBI further said the trading hours for government securities market, foreign exchange market and interest rate derivatives market remain unchanged.

It also said other recommendations of the working group are under consideration and the decisions thereon will be taken in due course.