Govt revises ceiling for outsourcings under MMS

Mumbai, Apr 27 (UNI) The government, in consultation with the Reserve Bank of India (RBI), today further revised the ceiling for outsourcings to Rs 1,10,000 crore under the Market Stabilisation Scheme (MMS), for the financial year 2007-08.

The threshold at which the ceiling be reviewed in future, is now Rs 95,000 crore, an official statement said here.

The MMS outstandings currently stand at Rs 78,000 crore.

The apex bank, under the existing arrangements, subject to variations in liquidity, announces every Friday the auctions under MMS, covering the treasury bills and dated securities for the succeeding week.

These arrangements would continue until further notice, the statement added.

UNI