Special liquidity facility by RBI for Mutual Funds

New Delhi :  The Reserve Bank of India (RBI) on Monday announced Rs 50,000 crore special liquidity facility for Mutual Funds (SLF-MF).

Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate. The SLF-MF is on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays).

The scheme is available from April 27, 2020 till May 11, 2020 or up to utilization of the allocated amount, whichever is earlier.

The Reserve Bank will review the timeline and amount, depending upon market conditions.