RBI’s Committee Proposes Extending MIBOR Calculation to First 3 Hours of Transactions for Better Market Representation
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- Last Updated on 4 October, 2024
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Press Release: 2024-2025/1202, Dated 01.10.2024
The RBI has released the Report of the Committee on MIBOR Benchmark, led by Shri R. Subramanian. The Committee was tasked with reviewing Rupee interest rate benchmarks, particularly MIBOR, & assessing the need for transitioning to new benchmarks. The committee recommended extending the calculation of MIBOR to the first three hours of transactions, instead of just the first hour. This change aims to make MIBOR more representative of call money market activities & enhance its reliability.
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