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LAF Reverse Repo Window Timing Shifted to Evening

Current · Source: Reserve Bank of India · RBI/2013-14/451 · issued 17 Jan 2014 · ~1 min read
Quick answerRBI has moved the LAF Reverse Repo window from 4:45-5:15 PM to 7:00-7:30 PM, effective January 20, 2014. This change, based on market feedback, aims to better align with participants' needs. All other terms remain unchanged.
The rule, in the simplest words
How it plays out — a real example

Raj, a treasury officer at a Mumbai bank, checks the new 7:00‑7:30 PM window at 6:45 PM. He decides to park his surplus cash at 7:05 PM, feeling relieved that the later slot fits his team's closing routine. This simple shift helps him manage the bank’s end‑of‑day liquidity more flexibly.

What changed

The Reverse Repo window under the Liquidity Adjustment Facility (LAF) has been rescheduled. The new timing is 7:00 PM to 7:30 PM, replacing the earlier slot of 4:45 PM to 5:15 PM. This revision takes effect from January 20, 2014.

What it means for you

Banks and primary dealers now have a later window to park surplus funds with RBI, which could help manage end-of-day liquidity more flexibly. The shift may reduce pressure on the earlier afternoon slot and align with market operations that extend into the evening. No other terms of the Reverse Repo scheme have been altered.

What you must do

Who it affects

All Scheduled Commercial Banks (excluding RRBs), Standalone Primary Dealers, Treasury and liquidity management teams

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Why did RBI change the Reverse Repo window timing?

The change was based on feedback from market participants to better suit their operational needs. The new timing allows for later participation in the LAF Reverse Repo.

Are there any other changes to the Reverse Repo scheme?

No, all other terms and conditions of the Reverse Repo scheme under LAF remain unchanged. Only the timing has been revised.

When does the new timing take effect?

The revised timing is effective from Monday, January 20, 2014.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/451 FMD.MOAG. No.95/01.01.001/2013-14 January 17, 2014 All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers Madam / Sir, Liquidity Adjustment Facility- Reverse Repo Based on the feedback received from the market participants, it has been decided to revise the timings of Reverse Repo window under Liquidity Adjustment Facility (LAF) . The Reverse Repo window will now be available between 7.00 pm and 7.30 pm instead of the existing timings of 4.45 pm to 5.15 pm. The change in timings will take effect from January 20, 2014 (Monday) . 2. All other terms and conditions of the current Reverse Repo scheme under LAF will remain unchanged. Yours sincerely (G. Mahalingam) Principal Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/451 · issued 17 Jan 2014. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
💻 IT / Systems
  • Update internal treasury systems and cut-off times to reflect the new 7:00 PM to 7:30 PM Reverse Repo window.
📜 Compliance
  • Inform trading desks and back-office teams about the timing change effective January 20, 2014.
  • Review liquidity management strategies to take advantage of the later window for parking funds.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (All Scheduled Commercial Banks (excluding RRBs), Standalone Primary Dealers, Treasury and liquidity management teams), your first concrete step on “LAF Reverse Repo Window Timing Shifted to Evening” is: “Update internal treasury systems and cut-off times to reflect the new 7:00 PM to 7:30 PM Reverse Repo window.” (RBI issued this 17 Jan 2014).

  1. Circular: RBI/2013-14/451 -- LAF Reverse Repo Window Timing Shifted to Evening
  2. Issued: 17 Jan 2014
  3. Action required: Update internal treasury systems and cut-off times to reflect the new 7:00 PM to 7:30 PM Reverse Repo window.
  4. Action required: Inform trading desks and back-office teams about the timing change effective January 20, 2014.
  5. Action required: Review liquidity management strategies to take advantage of the later window for parking funds.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8697&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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