te Big Zee Business Impact: RBI cuts market trading hours to 4 hrs from April 7 | Zee Business

Big Zee Business Impact: RBI cuts market trading hours to 4 hrs from April 7

Reserve Bank of India (RBI) today reduced market trading hours for bond and currency markets to four hours from April 7. The move comes in the wake of Zee Business Managing Editor Anil Singhvi's relentless campaign to reduce market trading hours to protect investors

Big Zee Business Impact: RBI cuts market trading hours to 4 hrs from April 7
Demand to reduce market timing was first raised on the Zee Business platform by expert Ashu Madan, a financial market expert

The Reserve Bank of India (RBI) today reduced market trading hours for bond and currency markets to four hours from April 7. The move comes in the wake of Zee Business Managing Editor Anil Singhvi's relentless campaign to reduce market trading hours to protect investors.

While lauding the RBI decision, Anil Singhvi said that the market hours for bonds and currency trading between 10 am and 2 pm from April 7 was the right decision. "These arrangements will become effective from April 7, 2020 (Tuesday) and continue up to April 17, 2020 (Friday)," RBI release said.

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Zee Business Managing Editor complemented the RBI for taking this tough action.

The debt and currency market timings are between 9 am and 5 pm.

The decision will be reviewed on April 17, Anil Singhvi said.

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Experts on the Zee Business panel were also all-praise for this campaign and welcomed the RBI decision.

The demand to reduce market timing was first raised on the Zee Business platform by expert Ashu Madan, a financial market expert.

Significantly, Anil Singhvi said that he expects the timing for equity markets to also get reduced - a sentiment echoed by Zee Business guests.

Banking regulator's move came in the wake of "unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans," RBI said in a media statement.

"The resultant dislocations have adversely impacted the functioning of financial markets," it added.

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"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" the statement read.

Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Fri, Apr 03, 2020
07:39 pm
new delhi, ZeeBiz WebDesk
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