RBI revises trading hours for currency, debt market

The unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on the 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 increasing volatility of financial prices.

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, it has been decided to revise trading hours for various markets, RBI said in the press note.

These arrangements will become effective from April 7, 2020 (Tuesday) and continue up to April 17, 2020 (Friday) [both days inclusive].

All regular banking services for customers, including RTGS, NEFT, e-kuber and other retail payments systems will continue to be available as per extant timings, RBI said