RBI to pump in Rs 20,000 cr to help MFs meet redemption needs
UMBAI: The Reserve Bank on Tuesday decided to inject Rs 20,000 crore through short-term lending route to help the mutual funds meet their liquidity needs and overcome redemption pressure. “RBI has decided to conduct a special 14-day repo at nine per cent per annum for Rs 20,000 crore today with a view to enabling banks to meet the liquidity requirement of mutual funds,” the central bank said in a release.
The decision will help the mutual fund industry to meet redemption pressure following the credit crisis in the financial sector.
Finance Minister P Chidambaram, while welcoming the decision by RBI, said it was taken in view of the liquidity stress being faced by some mutual funds.
Assets under managements of mutual funds was Rs 4.83 lakh crore at the end of September compared to Rs 5.44 lakh crore at the end of August, according to AMFI data.
source: Economictimes
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
