RBI/2012-13/490
MPD No.BC. 364/07.01.279/2012-13

May 3, 2013

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

Dear Sir/Madam,

Standing Liquidity Facilities for
Banks and Primary Dealers

Please refer to the Monetary Policy Statement 2013-14 dated May 3, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 7.50 per cent to 7.25 per cent with immediate effect.

2. Accordingly, the Standing Liquidity Facilities provided to banks under Export Credit Refinance (ECR) and Special Export Credit Refinance (SECR) and to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate, i.e., at 7.25 per cent with effect from May 3, 2013.

Yours faithfully,

(Michael Debabrata Patra)
Adviser-in-Charge