RBI announces 14 days repo facility to help mutual funds

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Updated: 14/10/2008 | 12:00 AM IST

Mutual fund

RBI announces 14-days repo facility to help mutual funds

Capital Market

Tuesday, October 14, 2008 (New Delhi)

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RBI has announced on 14 October 2008 that it will conduct a special 14 day repo at 9% per annum for amount of Rs.20,000 crore in order to enable the banks to meet the liquidity requirements of mutual funds. Details of the facility are being announced separately.

It will help the domestic mutual funds to meet redemption pressure, which are facing problem of credit shortage in the banking system. Thereby, the conduct of 14 days repo will ease down the redemption pressures and liquidity stress. It will give relief to the mutual fund industry as a whole and the investors.

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