The Reserve Bank of India said in a statement that it would conduct a special fixed term repo auction at 5% per annum for Rs. 583.30 bn on Friday, which was due for reversal on March 30. The outstanding amount under this facility as on March 12, 2009 stood at Rs1,670 crore.
However, the special fixed rate term repo under Liquidity Adjustment Facility is available till September 30, 2009 up to a cumulative amount of Rs.60,000 crore. This amount is on outstanding basis to banks exclusively for the purpose of meeting requirements of MFs, NBFCs and HFCs.
However, the special fixed rate term repo under Liquidity Adjustment Facility is available till September 30, 2009 up to a cumulative amount of Rs.60,000 crore. This amount is on outstanding basis to banks exclusively for the purpose of meeting requirements of MFs, NBFCs and HFCs.
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