India cbank offers 590.8 bln rupees at special repo | india | Hindustan Times
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India cbank offers 590.8 bln rupees at special repo

india Updated: Jan 16, 2009 12:51 IST

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.