RBI offers 582.30 bn rupees at special repo

The Reserve Bank of India said it would conduct a special repo auction for 582.30 billion rupees on Tuesday. The reversal of the auction will be on March 31, it said in a statement.

The Reserve Bank of India said it would conduct a special repo auction for 582.30 billion rupees on Tuesday. The reversal of the auction will be on March 31, it said in a statement.

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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.

(Reporting by Mumbai Treasury Desk)