RBI offers liquidity assistance to settlement banks

Mumbai, May 22 (UNI) The Reserve Bank of India(RBI) today offered liquidity assistance and assured availability of liquidity for settlement banks in the light of the 1100-point slide in the stock market's benchmark index.

''In light of the developments in the stock exchanges, the RBI has been in touch with major settlement banks and both the major stock exchanges to ensure that the payment obligations on the exchanges are met smoothly,'' an RBI release said.

''Banks can get in touch with the Reserve Bank for any liquidity assistance,'' the RBI statement added.

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