The Reserve Bank of India on Friday revised the timing for money markets instruments from 10 am-2 pm. These changes will come into effect on April 7 and will continue up to April 17, the central bank said in a release.
The RBI said 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 in
creasing volatility of financial prices,” it added.
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, RBI has decided to revise trading hours for various markets as under: