4 banks avail Rs 1,035 crore from Special Repo for MFs

Mumbai, Oct 17 (UNI) Four banks today picked up Rs 1,035 crore of the Rs 14,030 crore nine per cent fixed special repo facility offered by the Reserve Bank, to tideover liquidity crisis faced by Mutual Funds.

The facility, which was opened on October 14, had so far seen banks picking up Rs 5,070 crore in the 14/15-day special liquidity adjustment facility (LAF).

The regular two LAF auctions of RBI held today, saw a total of Rs 7,350 crore picked up by six banks under three-day repo. The Reverse Repo saw 11 banks purchasing securities amounting to Rs 5,715 crore from the RBI.

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