RBI recommends shift in way money market benchmarks are set

01/6/2014 | Reuters

The Reserve Bank of India is striving to avoid manipulation in the setting of money market benchmarks by recommending that the rates be based on trades, rather than a poll of traders. The central bank suggested that the overnight Mumbai Interbank Bid Rate-Mumbai Interbank Offered Rate be based on trades made during a one-hour period in the morning.

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