Special Term Repo Facility
RBI/2009-10/192
FMD.MOAG.No.41/01.01.01/2009-10
October 27, 2009
All Scheduled Commercial Banks (excluding RRBs)
and Primary Dealers
Dear Sir,
SPECIAL TERM REPO FACILITY
Please refer to our circular FMD.MOAG.NO.35/01.01.01/2008-09 dated April 21, 2009 on the captioned subject.
2. As announced in the Second Quarter Review of Monetary Policy 2009-10, it has been decided to discontinue the special term repo facility for scheduled commercial banks for funding to mutual funds, non-banking financial companies and housing finance companies with immediate effect.
3. The outstanding liabilities of scheduled commercial banks under this facility shall not be rolled-over on maturity.
Yours sincerely,
(P. Krishnamurthy)
Chief General Manager
CAclubindia
Rajiv
Published in Community & General