E I D Parry Limited

Call Rate Hits Record High The CLOSE of February marked the emergency of tight conditions, not unexpectedly, and the end of the stable six per cent call rate, which had been poised for a rise even before mid-February. What ushered in the tight conditions and triggered off the climb in the inter-bank call rate in Bombay was the final advance quarterly payments of income tax on March 1. By March 4, the call rate had touched a record high of 10 per cent, at which level it has since been sustained.