Special Fixed Rate Repo under Liquidity Adjustment Facility - ആർബിഐ - Reserve Bank of India
Special Fixed Rate Repo under Liquidity Adjustment Facility
RBI/2008-09/224 October 15, 2008 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, SPECIAL FIXED RATE REPO UNDER The Reserve Bank announced and conducted a special fixed rate term repo at 9 per cent per annum against eligible securities for a notified amount of Rs.20,000 crore on October 14, 2008, with a view to enabling banks to meet the liquidity requirements of mutual funds. Banks utilized Rs 3500 crore of this facility on October 14, 2008. 4. The Reserve Bank will issue a press release each day mentioning the cumulative utilisation by banks and PDs under this facility, the notified amount and the tenor for the next day’s auction. 5. This repo will be in addition to the repo/reverse repo auctions conducted under Liquidity Adjustment Facility (LAF) and Second Liquidity Adjustment Facility (SLAF) which will be held as usual. 6. The settlement for the special repo would be conducted separately and on gross basis. 7. The other terms and conditions for the special repo would remain as notified by our earlier circulars on the Liquidity Adjustment Facility. Yours faithfully, (Chandan Sinha) |