India c.bank says to hold special 14-day repo daily
MUMBAI, Oct 15 (Reuters) - India's central bank said on Wednesday it will extend a special funding window, first introduced on Tuesday, to meet the liquidity needs of mutual funds reeling from the global financial turmoil.
The Reserve Bank of India (RBI) said it will hold the 14-day repurchase agreements (repos) everyday up to an outstanding amount of 200 billion rupees ($4.2 billion).
"RBI will extend 14-day repo facility everyday until further notice to a cumulative amount of 200 billion rupees for meeting liquidity needs of mutual funds," the central bank spokeswoman said in a text message to reporters. (Reporting by V Ramakrishnan; Editing by Anshuman Daga)
