India cbank offers 594.30 bln rupees at special repo | india | Hindustan Times
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India cbank offers 594.30 bln rupees at special repo

The Reserve Bank of India said it would conduct a special repo auction for 594.30 billion rupees on Monday. The reversal of the auction will be on Feb 16, it said in a statement.

india Updated: Feb 02, 2009 12:03 IST

The Reserve Bank of India said it would conduct a special repo auction for 594.30 billion rupees on Monday.

The reversal of the auction will be on Feb 16, 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 Sept 30.