RBI revises bank timings: Check new working hours

New Delhi: Bank customers will now get an extra hour to complete bank-related work. The Reserve Bank of India (RBI) has changed the timings for the trading hours of the market and banks with effect from April 18, 2022. The RBI changed the opening hours of banks from Monday, after four days of closure. Now, banks will operate from 9 am. However, no change has been made to the closing time. Due to the rise in COVID-19 cases in India, the opening hours of banks were reduced. But with things getting back to normal, the RBI is implementing this facility from April 18, 2022

Meanwhile, the RBI also said that from April 18 the trading hours of markets regulated by it will be from 9 am to 3.30 pm. “With the substantial easing of restrictions on the 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 RBI release said

RBI-regulated market

The markets regulated by the central bank are, call/notice/term money; market repo in government securities; tri-party repo in government securities; commercial paper and certificates of deposit; repo in corporate bonds; government securities (central government securities, state development loans, and treasury bills); Foreign Currency (FCY)/Indian Rupee (INR) trades, including forex derivatives; and rupee interest rate derivatives.

RBI also issued a chart that tells the exact timing of the start of the market and the ending of the same.

Check below the revised timing:

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

The trading hours for various markets regulated by the RBI were changed on April 7, 2020, in the wake of the coronavirus pandemic that had resulted in operational dislocations and elevated levels of health risks. Later, with the easing of operational constraints, the trading hours were partially restored with effect from November 9, 2020.

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