New Delhi: In yet another measures to stimulate the economy, the Reserve Bank of India today announced a special liquidity facility of ₹50,000 crore for mutual funds.
The stock markets surged immediately after the RBI announced this liquidity facility for mutual funds.
The Sensex was up about 750 points.
The RBI’s liquidity facility for mutual funds will be effective from today till May 11, 2020 or up to utilization of the allocated amount, whichever is earlier.
The RBI also assured that it will review the timeline and amount, depending upon market conditions.