RBI halves trading hours to curb volatility amid lockdown [Reuters]
ICICI Bank Limited (IBN)
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Source: Reuters
RBI halves trading hours to curb volatility amid lockdown MUMBAI (Reuters) - The Reserve Bank of India (RBI), in a unprecedented move, cut market trading hours for both bonds and foreign exchange to four hours, citing possible operational and logistical risks arising from the nationwide lockdown due to the COVID-19 outbreak. The country went into a 21-day lockdown starting March 25 amid rising cases of infections in the country. So far India has seen more than 2,300 cases of COVID-19, the respiratory disease caused by the new coronavirus, and 56 deaths. The situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing and restrictions on movement of people across the country, with most offices having made arrangements to work from home, RBI said. “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 RBI said in the release. “The
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Sec Filings
- 11/6/24 - Form 6-K
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- IBN's page on the SEC website