Standing Liquidity Facilities for Banks and Primary Dealers

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Published on March 04, 2009

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Standing Liquidity Facilities for Banks and Primary Dealers

RBI/2008-09/400

REF.No.MPD.BC. 319 /07.01.279/2008-09

March 4, 2009

To
All Scheduled Banks [excluding Regional Rural Banks ]
and Primary Dealers

Dear Sir/Madam,

Standing Liquidity Facilities for
Banks and Primary Dealers

Please refer to the Reserve Bank’s Press Release: 2008-2009/1432 dated March 4, 2009, in terms of which the fixed repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 50 basis points from 5.5 per cent to 5.0 per cent with immediate effect.

2. Accordingly, the Standing Liquidity Facilities provided to banks (export credit refinance)and Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate, i.e., at 5.0 per cent with effect from March 5, 2009.

Yours faithfully,

(Janak Raj)

Adviser-in-Charge