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RBI announces special liquidity of Rs 50,000 crore for Mutual funds

The Edge Media by The Edge Media
3 years ago
in Business Edge, Main Story, Stock Exchange
Reading Time: 1 min read
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The Reserve Bank of India today, came forward with a Rs 50,000 crore plan to rescue and save mutual funds. The step was taken after Franklin Templeton wound up six of its debt and credit schemes with an aggregate AUM (Asset Under Management) of Rs 36,000 crore. 

RBI said that it has taken account of the increased inconsistency in capital markets, after the coronavirus breakout, and accepted that the volatility has brought liquidity strains on mutual funds. The liquidity limitations at fund houses has escalated in the wake of redemption pressures related to the closure of some debt mutual funds.

“The stress is, however, confined to the high-risk debt Mutual Funds segment at this stage; the larger industry remains liquid,”

as mentioned in a notification issued by the Reserve Bank of India.
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