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RBI closes special window for mutual funds

The central bank had opened a special borrowing window of Rs. 250 billion in July

October 30, 2013 12:43 IST | India Infoline News Service
In order to enhance liquidity, the Reserve Bank of India on Tuesday decided to close the special window for commercial banks to meet the cash requirements of mutual funds (MFs) with immediate effect.

“With the normalisation of exceptional measures and taking into consideration the improvement in liquidity conditions since then, it has been decided to close this window with immediate effect,” RBI Governor Raghuram Rajan said in the second quarter monetary policy review.

The central bank had opened a special borrowing window of Rs. 250 billion in July to improve the liquidity of funds in mutual fund sector.



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