RBI/2008-09/309
REF.No.
MPD.BC.313/07.01.279/2008-09 December 6, 2008 To All
Scheduled Banks [excluding Regional Rural Banks (RRBs)]
and Primay Dealers Dear
Sir/Madam, Standing Liquidity Facilities for
Banks
and Primary Dealers Please refer to the Reserve
Bank’s Press Release dated December 6, 2008, in terms of which the fixed repo
rate under the Liquidity Adjustment Facility (LAF) has been reduced by 100 basis
points from 7.5 per cent to 6.5 per cent with effect from December 8, 2008. 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 repo rate, i.e., at 6.5 per cent
with effect from December 8, 2008. Yours faithfully, (M.D.
Patra)
Adviser-in-Charge |
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