Banks Customers Attention: New Timings From Today. Details Here

 


The market timing for various markets has been revised by the Reserve Bank of India (RBI). The new rule will come into effect from April 18.

New Delhi: The Reserve Bank of India (RBI) on Monday announced that restored the pre-pandemic trading timings in RBI-regulated markets, which includes the money market. From today (April 18) onwards, trading in markets regulated by the RBI will start from 9 am and end at 3.30 pm, the central bank said in a release on Monday. Until today, the markets have been open at 10 am. This change in trade timings will give bank customers an extra hour to get their work done. However, no change has been made in the closing time of banks.

With the substantial easing of restrictions on movement of people and functioning of offices, it has now been decided to restore the opening time for regulated financial markets to their pre-pandemic timing of 9 am,” the release said.

“The trading hours for various markets regulated by the Reserve Bank were amended with effect from April 7, 2020 in view of the operational dislocations and elevated levels of health risks posed by COVID-19. Subsequently, with abatement of operational constraints, the trading hours were partially restored with effect from November 9, 2020. With the substantial easing of restrictions on movement of people and functioning of offices, it has now been decided to restore the opening time for regulated financial markets to their pre-pandemic timing of 9:00 am.”

TRADING HOURS FOR THE MARKETS REGULATED BY THE RBI WOULD BE AS FOLLOWS:

  • Call/notice/term money – 9:00 am to 3:30 pm
  • Market repo in Government Securities – 9:00 am to 2:30 pm
  • Tri-party repo in Government Securities – 9:00 am to 3:00 pm
  • Commercial paper and Certificates of Deposit –  9:00 am to 3:30 pm
  • Repo in Corporate Bonds-9:00 am to 3:30 pm
  • Government Securities (Central Government Securities, State Development Loans and Treasury Bills) – 9:00 am to 3:30 pm
  • Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives – 9:00 am to 3:30 pm
  • Rupee Interest Rate Derivatives –9:00 am to 3:30 pm

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more