RBI offers $12.1 bn at special repo

Reuters
Posted: Friday, Jan 16, 2009 at 1224 hrs IST
Updated: Friday, Jan 16, 2009 at 1224 hrs IST

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Mumbai: The Reserve Bank of India said it would conduct a special repo auction for 590.80 billion rupees ($12.1 billion) on Friday.

The reversal of the auction will be on Jan. 30, it said in a statement.

The special repo facility was introduced on Oct. 14, offering 200 billion rupees to meet liquidity needs of mutual funds.

The central bank later increased the facility to 600 billion rupees to include liquidity needs of non-banking financial companies and housing finance companies and has said it would be held every day till June 30.

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