News From Press Covid-19: MFs fear huge redemptions, write to RBI for liquidity support

Covid-19: MFs fear huge redemptions, write to RBI for liquidity support

Source: Business Standard Mar 24, 2020

The mutual fund (MF) industry has written to the Reserve Bank of India (RBI) seeking liquidity support as it fears massive redemption pressure in the Rs 5 trillion liquid scheme category, with corporate investors pulling out funds to meet debt obligations as Coronavirus outbreak disrupts business operations.

According to sources, the industry has asked the RBI to increase the line of credit to Rs 1 trillion through a repo window for corporate bond and commercial papers.

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