RBI offers $11.4 bn at special repo auction

RBI offers $11.4 bn at special repo auction
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First Published: Wed, Nov 19 2008. 12 09 PM IST
Updated: Wed, Nov 19 2008. 12 09 PM IST
Mumbai: The Reserve Bank of India said it would conduct a special 14-day repo auction for $11.4 billion on Wednesday.
The reversal will take place on 3 December, it said in a statement.
The special repo facility was introduced on 14 October to meet liquidity needs of mutual funds for an allocated Rs20,000 crore.
The central bank has increased the facility to Rs60,000 crore to include liquidity needs of non-banking financial companies, and said it would be held every day until further notice.
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First Published: Wed, Nov 19 2008. 12 09 PM IST