India cbank to provide additional liquidity measures at fiscal year-end

Source : REUTERS
Last Updated: Wed, Mar 27, 2013 00:13 hrs

MUMBAI, March 26 (Reuters) - The Reserve Bank of India will hold an additional repo auction on March 28, the last working day of the current fiscal year when demand for funds from banks usually increases.

The auction will be held between 1115 and 1145 GMT.

The central bank will also hold additional repo, reverse repo and marginal standing facility auctions on March 30 and March 31 between 1200 and 1230 GMT, it said in a statement.

"The Reserve Bank of India, in order to facilitate smooth and non-disruptive conduct of banking operations, has decided to conduct additional liquidity operation," it said.

The reversal of all additional liquidity adjustment facility shall be on April 2. (Reporting by Shamik Paul; Editing by Subhranshu Sahu)




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