RBI notifies Changes in Market Hours from April 7

On Friday Reserve bank of India notified revision of trading hours of various markets between April 7, 2020, and April 17, 2020 (both days inclusive). The revised timings will be between 10AM to 2PM from April 7, 2020, for all under noted markets. All regular banking services for customers, including RTGS, NEFT, e-kuber and other retail payment systems will continue to be available as per extant timings, the press release of the Banking regulator said.

The above-unprecedented decision was necessitated by RBI in view of resultant dislocation created by COVID-19 outbreak and pursuant lockdown, social distancing, restrictions on the movement of people and non-essential activities, work from home and business continuity plan, and subsequent disruption have adversely impacted the functioning of financial markets, it added. 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, the notification added.
The decision to amend the timing is to minimize the risks and safety of market participants and to maintain adequate checks and supervisory controls while optimizing thin resources and ensuring the safety of personnel, it said.
The trading hours of following market timings are uniformly changed from 10 AM to 2 PM from April 7, 2020.

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*
Rupee Interest Rate Derivatives.
No change in timings of those traded on recognised stock exchanges