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Wednesday, November 29, 2023

Short-Term Debt: No issuances ahead of MPC decision on Thursday

Informist, Tuesday, Aug 8, 2023


By Asmita Patil


MUMBAI – No commercial papers and certificates of deposits were issued in the short-term debt market so far today, as companies and banks remained on the sidelines ahead of the Monetary Policy Committee’s decision on interest rates on Thursday, dealers said. 


On Monday, companies and financial institutions had raised 30.50 bln rupees through issuance of commercial papers. 


“RBI’s (Reserve Bank of India’s) meeting has started today, so issuers will mostly wait and watch now till the rate decision is announced,” a dealer with a mid-sized brokerage firm said. 


The Reserve Bank of India’s Monetary Policy Committee is widely expected to keep the policy stance and repo rate unchanged. In an Informist poll of 35 economists, treasury heads, and analysts, 34 said they expect the rate-setting panel to keep the repo rate unchanged at 6.50%, while 31 expect the panel to maintain the ‘withdrawal of accommodation’ stance at the end of its three-day meeting on Thursday.


Market participants will track comments by central bankers on liquidity management. 


–Secondary market

* Punjab National Bank’s CD maturing on Wednesday was dealt 10 times at a weighted average yield of 6.3886%

* HDFC Bank’s (erstwhile Housing Develompent Finance Corp) CP maturing on Mar 22, 2024 was dealt at a weighted average yield of 7.5500%


At 1630 IST, following were the volumes, in bln rupees, in the secondary market for short-term debt, as detailed by the Clearing Corp of India’s F-TRAC platform:


Certificates of deposit

Commercial papers








NOTE: Details of the deals have been received from market sources.




Edited by Avishek Dutta


For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.


Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.


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Source: Cogencis

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