India cbank offers 599.10 bln rupees at special repo | india | Hindustan Times
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India cbank offers 599.10 bln rupees at special repo

The Reserve Bank of India said it will conduct a special repo auction for 599.10 billion rupees ($12.3 billion) on Wednesday.

india Updated: Jan 14, 2009 12:52 IST

The Reserve Bank of India said it will conduct a special repo auction for 599.10 billion rupees ($12.3 billion) on Wednesday.

The reversal of the auction will be on January 28, it said in a statement.

The special repo facility was introduced on October 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.