RBI Introduces Secured Overnight Rupee Rate (SORR)

February 17, 2025 admin 0 Comments Banking Sector, financial markets, financial regulation, India banking news., interest rate benchmark, Market Repo, Money Market, overnight market, rbi, RBI policy, Secured Overnight Rupee Rate, secured transactions, SORR, TREPS, tri-party repo

The Reserve Bank of India has launched a new interest rate benchmark, the Secured Overnight Rupee Rate (SORR), to enhance the credibility of overnight market funding rates. Based on secured money market transactions, including market repo and tri-party repo (TREPS), SORR will represent 98% of overnight money market activity, encompassing both bank and non-bank participation.

“This benchmark will provide a more accurate reflection of secured transactions,” Deputy Governor Michael Debabrata Patra stated during a post-policy media interaction.