RBI gets no bids at special repo auction for mutual funds

The Reserve Bank of India said that it did not receive any bids on the second day at the special repo auction for mutual funds.

July 23, 2013 / 18:25 IST

The Reserve Bank of India said it did not receive any bids at its second consecutive special repo auction for mutual funds on Tuesday.

Also read: Here's how RBI move will help mutual fund investment

The central bank is offering the special repo facility at the Marginal Standing Facility (MSF) interest rate of 10.25 percent.

Last week, the RBI had said it would offer a total of Rs 250 billion to banks for funding mutual funds through a special repo window to meet their liquidity needs.

first published: Jul 23, 2013 06:25 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347