RBI gets no bids at special repo auction for mutual funds

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.

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