RBI/2008-09/338
REF.No.MPD.BC.
315 /07.01.279/2008-09
January 2, 2009
To
All Scheduled Banks [excluding Regional Rural Banks (RRBs)]
and Primary
Dealers
Dear Sir/Madam,
Standing Liquidity
Facilities for Banks and Primary Dealers
Please
refer to the Reserve Bank’s Press
Release: 2008-2009/1023 dated January 2, 2009, in terms of which the fixed
repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 100
basis points from 6.5 per cent to 5.5 per cent with immediate effect.
2.
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 revised repo rate, i.e., at 5.5
per cent with effect from January 3, 2009.
Yours faithfully,
(Janak
Raj)
Adviser-in-Charge