Standing Liquidity Facilities for Banks and Primary Dealers
RBI/2012-13/446
MPD.BC.362/07.01.279/2012-13
Phalguna 28, 1934 (S)
March 19, 2013
To
All Scheduled Banks [excluding Regional Rural Banks(RRBs) ]
and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities for
Banks and Primary Dealers
Please refer to the Mid Quarter Monetary Policy Review: March 2013 dated March 19, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 7.75 per cent to 7.50 per cent with immediate effect.
2. Accordingly, the interest rate charged on the Standing Liquidity Facilities provided to banks under Export Credit Refinance (ECR) and Special Export Credit Refinance (SECR) and to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank is at the revised repo rate, i.e., at 7.50 per cent with immediate effect.
Yours faithfully,
(Michael Debabrata Patra)
Adviser-in-Charge
