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RBI to inject Rs. 20,000 crore to help mutual funds tide over liquidity crisis
Mumbai,
Tue, 14 Oct 2008
ANI
Mumbai, Oct 14 (ANI): The Reserve Bank of India (RBI) 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.
In a notification, the apex bank said that it has decided to conduct a special 14-day repo at nine per cent per annum for Rs.
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20,000 crore.
RBI's decision will help the mutual fund industry to meet redemption pressure following the credit crisis in the financial sector. (ANI)
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