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RBI Lengthens Call Money Market to 7 PM and Repo Windows to 4 PM

It follows a review by a working group chaired by Radha Shyam Ratho, taking effect in July and August.

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Overview

  • The call money market will operate from 9:00 am to 7:00 pm IST starting July 1, 2025, extending the close time by two hours.
  • Market repo and Tri-Party Repo segments will run from 9:00 am to 4:00 pm IST beginning August 1, 2025, up from a 2:30 pm cutoff.
  • The extensions implement recommendations from a panel tasked with optimizing trading and settlement timings in RBI-regulated markets.
  • Officials say the longer hours will boost overnight liquidity management and improve price discovery among banks and financial institutions.
  • Trading hours for government securities, foreign exchange and interest rate derivatives will remain unchanged; other working group recommendations are still under consideration.