RBI/2013-14/627
FMD.MOAG. No. 103/01.01.009/2013-14

June 4, 2014

All Scheduled Commercial Banks (excluding RRBs)

Madam / Sir,

Special Term Repo Auction

As announced yesterday in the Second Bi-Monthly Monetary Policy Statement for 2014-15, it has been decided to introduce special term repo auctions of 28-day tenor for a notified amount up to 0.25 per cent of net demand and time liabilities (NDTL) of the banking system. The 28-day special term repo auction will usually be conducted on non-reporting Fridays. The first such special term repo auction will be conducted on June 6, 2014 (Friday).

2. The special term repo auctions will be conducted as per the revised guidelines on Term Repo issued on February 13, 2014.

3. Please acknowledge receipt.

Yours sincerely

(G. Mahalingam)
Principal Chief General Manager