RBI Notifies Changes in Market Hours due to COVID-19 outbreak
RBI Notifies Changes in Market Hours
The unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans. The resultant dislocations have adversely impacted the functioning of financial markets. Staff and IT resources have been severely affected, posing operational and logistic risks. The thinning out of activity is impacting market liquidity and increasing volatility of financial prices.
RBI, in order to minimise these risks and to ensure that market participants maintain adequate checks and supervisory controls while optimising thin resources and ensuring safety of personnel, has decided to revise trading hours for various markets as under:
Market |
Existing Timings |
Amended Timing |
Call/notice/term money |
9 AM to 5 PM |
10 AM to 2 PM |
Market repo in government securities |
9 AM to 2:30 PM |
10 AM to 2 PM |
Tri-party repo in government securities |
9 AM to 3 PM |
10 AM to 2 PM |
Commercial paper and Certificates of Deposit |
9 AM to 5 PM |
10 AM to 2 PM |
Repo in Corporate Bonds |
9 AM to 6 PM |
10 AM to 2 PM |
Government Securities (Central Government Securities, State Development Loans and Treasury Bills) |
9 AM to 5 PM |
110 AM to 2 PM |
Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives* |
9 AM to 5 PM |
10 AM to 2 PM |
Rupee Interest Rate Derivatives* |
9 AM to 5 PM |
10 AM to 2 PM |
- TDS deductors given relief for non deduction of TDS at higher rate for inoperative PANs
- Reassessment order quashed due to error in personal hearing video conferencing link
- Assessee may show that it was over assessed under erroneous impression of law
- Education Cess cannot be allowed as an expenditure in view of later amendment – SC
- Cash deposit cannot be shifted from live person to a deceased just because he was joint holder