RBI to open Rs 50,000-cr special liquidity window to support mutual funds



The Reserve Bank of India (RBI) will open a special liquidity window of Rs 50,000 crore to ease pressure on mutual funds, which are facing liquidity strains due to heightened volatility in capital markets in the wake of the Covid-19 outbreak.

The liquidity strains have intensified amid redemption pressures related to the closure of some debt MFs and potential contagious effects. The stress was, however, confined to the high-risk debt MF segment at this stage; the larger industry remained liquid, RBI said in a statement on Monday.

Banks will draw funds under the Special Liquidity Facility-Mutual Fund (SLF) exclusively for meeting the liquidity requirements of MFs by extending loans. Bank could also make outright purchase of investment-grade corporate bonds, commercial papers (CPs), debentures and certificates of Deposit (CDs) held by MFs.

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