The Reserve Bank of India (RBI) on April 30 announced the extension of amended hours for the market regulated by it.

"...the amended trading hours i.e., from 10.00 am to 2.00 pm for RBI-regulated markets that were effective till the close of business on April 30, 2020, shall be extended till further notice," the central bank said a press release.

"Market trading timings will be reviewed on the issuance of directions pertaining to lockdown from the government."

RBI-regulated markets include, 'call/notice/term money', 'market repo in government securities', 'commercial paper and certificates of deposit', 'repo in corporate bonds', 'government securities', 'foreign currency (FCY)/Indian Rupee (INR) trades' and 'Rupee Interest Rate Derivatives'.

The central bank said there was a likelihood of an extension of lockdown in major cities like Mumbai or easing of the restrictions in a limited manner and the decision was taken keeping "persisting operational dislocations and elevated levels of health risks warranting continuing restrictions on movement, work from home arrangements and business continuity plans" in mind.

The RBI curtailed timings to minimise risks and to ensure that market participants maintained adequate checks and supervisory controls while optimising thin resources.

As per the revised timings, the RBI regulated market opens at 10 am instead of earlier 9 am. The closing timings, too, have been revised to 2 pm for all segments.

Source & Courtesy; moneycontrol.com