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RBI asks EPFO to enter interest rate market

The RBI has written to EPFO on several occasions suggesting to enhance liquidity in the government securities

August 12, 2013 4:21 IST | India Infoline News Service
The Reserve Bank of India (RBI) in a letter to Employees' Provident Fund Organisation (EPFO) has asked the retirement body to consider participating in the fledgling interest rate swaps (IRS) market in the country, according to a media report.

The central bank's interest in developing the domestic IRS market comes at a time when it is trying to strengthen the depreciation rupee and control high inflation, amid rising liquidity concerns, the report added.

The RBI has written to EPFO on several occasions suggesting to enhance liquidity in the government securities (G-Sec) and interest rate derivatives market.

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