Daily Email Newsletter (Sign-up Free)

(RBI) Market Stabilisation Scheme-MSS: Revision of Ceiling for 2016-17

Please refer to the Press Release dated June 22, 2016 on fixation of ceiling for MSS for 2016-17. After the withdrawal of the legal tender character of the Rs. 500 and Rs. 1000 denomination notes with effect from November 9, 2016, there has been a surge in the deposits with the banks. Consequently, there has been a significant increase of liquidity in the banking system which is expected to continue for some time.

In order to facilitate liquidity management operations by the Reserve Bank of India in the current scenario, Government of India has, on the recommendation of the Reserve Bank of India, decided to revise the ceiling for issue of securities under the Market Stabilisation Scheme (MSS) to Rs. 6,000 billion.

Ref: RBI Press Release dated December 02, 2016

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.