'Review of MSS ceiling in progress unlikely'

Reuters
Posted: Wednesday, Aug 08, 2007 at 0000 hrs IST
Updated: Wednesday, Aug 08, 2007 at 1255 hrs IST

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New Delhi, August 8:: India has no plans as of now to review its 1.1 trillion-rupee limit on the sale of Market Stabilisation Scheme (MSS) bonds, but will look into the issue if necessary, Finance Minister Palaniappan Chidambaram said on Wednesday.

"You can't say a review is on," Chidambaram said when asked if the finance ministry was reviewing the MSS limit.

"We will review it if it's necessary," he said.

The central bank uses the MSS bonds to absorb funds released by its currency intervention.

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