June
24, 2008
To
All Scheduled Banks [excluding Regional Rural Banks (RRBs)]
and Primary Dealers
Dear Sir,
Standing Liquidity
Facilities for Banks and Primary Dealers
Please refer to Financial Markets
Department Circular FMD. MOAG No. /19 01.01.01/ 2007-08 dated June 24, 2008 on
Liquidity Adjustment Facility – Repo and Reverse Repo Rates.
2.
The fixed repo rate under the liquidity adjustment facility (LAF) has been revised
to 8.50 per cent with immediate effect. Accordingly, the Standing Liquidity Facilities
provided to banks (export credit refinance) and Primary Dealers (PDs) (collateralised
liquidity support) from the Reserve Bank would be available at the repo rate,
i.e., at 8.50 per cent with effect from June 25, 2008.
Yours
faithfully,
(M.D. Patra)
Adviser-in-Charge