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RBI pushes for forex liquidity to banks

PUBLISHED ON: November 7, 2008 | Duration: 2 min, 02 sec

   
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In the wake of liquidity crunch being faced by banks for their foreign operations, the Reserve Bank on Friday said it would provide forex liquidity to banks having foreign branches or subsidiaries to meet their short-term funding requirements. "RBI will provide forex liquidity to public and private sector banks having foreign branches or subsidiaries through forex swaps of tenor up to three months," the RBI said in a release.
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