FMD.MOAG. No. 66 /01.01.01/2011-12
January 27, 2012
All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers
Additional Repo Operations under Liquidity Adjustment Facility (LAF) on Reporting Fridays
At present, Reserve Bank of India operates Liquidity Adjustment Facility (LAF) to inject/absorb liquidity through daily Repo/Reverse Repo auctions. While the LAF Repo operations are conducted in the forenoon between 9.30 A.M. and 10.30 A.M., the LAF Reverse Repo operations are conducted in the afternoon between 4.30 P.M. and 5.00 P.M., along with the Marginal Standing Facility.
2. In response to suggestions from some of the market participants and with a view to providing flexibility to market participants in their liquidity management, it has been decided to re-introduce additional Repo under LAF (Second LAF Repo) between 4.30 P.M. and 5.00 P.M. on reporting Fridays, with effect from February 10, 2012, till further notice.
3. In case the reporting Friday is a Bank holiday in Mumbai, then the Second LAF Repo would be conducted on the immediate preceding working day.
4. All other terms and conditions of the current LAF scheme will remain unchanged.
5. Please acknowledge receipt.
Chief General Manager
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