The Reserve Bank of India has started putting in public domain real time data for money market and various capital market instruments.
The central bank on Tuesday for the first time released its Handbook of Statistics on the Indian Economy on the Reserve Bank’s Data Warehouse platform. “With this initiative, the user will have access to the latest data as soon as they are updated from the source,” RBI said in a statement.
Some of the market data released by RBI could end up becoming reference rates for financial contracts. Currently, the business world depends on reference rates released by news agencies as benchmarks. These rates, which include overnight rates and forward premia rates, are largely based on a poll whereby quotes are obtained from various market participants.
“It is up to the market how they use the data. We will be providing a consistent data series with integrity and quality in the data provided,” said Deepak Mohanty, executive director, RBI.
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