The money market currently trades from 9 am to 5 pm.
Due to the novel coronavirus, or COVID-19, outbreak, the Reserve Bank of India (RBI) has revised the money market's trading hours from 10 am to 2 pm with effect April 7. These timings will continue till April 17.
The money market currently trades from 9 am to 5 pm.
"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," the central bank said in a statement.
Regular banking services for customers, including RTGS and NEFT services, will be available.
Since India is currently in a nationwide lockdown till April 14, staff at most corporates have been working from home. Citizens have been practicing social distancing, and non-essential services have been prohibited,
"The resultant dislocations have adversely impacted the functioning of financial markets," the RBI said.
The money market currently trades from 9 am to 5 pm.
"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," the central bank said in a statement.
Regular banking services for customers, including RTGS and NEFT services, will be available.
Since India is currently in a nationwide lockdown till April 14, staff at most corporates have been working from home. Citizens have been practicing social distancing, and non-essential services have been prohibited,
"The resultant dislocations have adversely impacted the functioning of financial markets," the RBI said.
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