RBI/2007-2008/362
FMD.MOAG.
No.18/01.01.01/2007-08 June 11, 2008 All Scheduled Commercial
Banks (excluding RRBs)
and Primary Dealers Dear Sir, LIQUIDITY
ADJUSTMENT FACILITY – REPO AND REVERSE REPO RATES In
the light of the current macroeconomic and overall monetary conditions and with
a view to containing inflation expectations, the Reserve Bank of India has decided
to increase the fixed repo rate under the Liquidity Adjustment Facility (LAF)
by 25 basis points to 8.00 per cent from 7.75 per cent, with effect from June
12, 2008. 2. The reverse repo rate under LAF remains unchanged
at 6.00 per cent. 3. All other terms and conditions of
the current LAF Scheme will remain unchanged. 4. Please
acknowledge receipt by e-mail. Yours
faithfully (Somnath Chatterjee)
Director |
|