News Brief
RBI Governor Shaktikanta Das
In a positive development, the Reserve Bank of India (RBI) on Monday (27 April) announced Rs. 50,000 crore Special Liquidity Facility (SLF) for mutual funds (MFs), reports Hindustan Times.
The move has been done to ease the liquidity pressures on the mutual funds as just last week Franklin Templeton fund house halted withdrawals from six debt mutual fund schemes.
In a press release, RBI stated that “the heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.”
The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid, RBI said.
Here are the details:
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