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RBI offers Rs561.45 bn at special repo auction

RBI offers Rs561.45 bn at special repo auction
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First Published: Wed, Dec 24 2008. 12 02 PM IST
Updated: Wed, Dec 24 2008. 12 02 PM IST
Mumbai: The Reserve Bank of India said it would conduct a special repo auction for Rs561.45 billion ($11.5 billion) on Wednesday.
The reversal of the auction will be on 7 January, 2009, it said in a statement.
The special repo facility was introduced on 14 October, offering Rs200 billion to meet liquidity needs of mutual funds.
The central bank later increased the facility to Rs600 rupees to include liquidity needs of non-banking financial companies, and has said it will be held every day until further notice.
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First Published: Wed, Dec 24 2008. 12 02 PM IST