RBI to hold spl fixed rate term repo auction for Rs 49,525 cr

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Mumbai, Nov 6 (UNI) The Reserve Bank of India (RBI) shall conduct an auction of special fixed rate term repo at 7.5 per cent per annum against eligible securities for Rs 49,525 crore today, due for reversal on November 20, with a view to enabling banks to meet the liquidity requirements of Mutual Funds(MFs) and Non-Banking Financial Companies (NBFCs) either on incremental or on rollover basis.

Of the outstanding amount of Rs 10,725 crore as yesterday, Rs 250 crore is due for redemption today.

It may be recalled that the Reserve Bank had announced earlier that it would conduct the special fixed rate term repo under Liquidity Adjustment Facility (LAF) every day until further notice up to a cumulative amount of Rs 60,000 crore and that additional liquidity support to the extent of up to 1.5 per cent of their NDTL, can be availed by banks exclusively for the purpose of meeting requirements of MFs and NBFCs, a RBI release said here.

UNI AR SSS AG1230

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