 "RBI sets FY14 market stabilisation scheme cap at Rs 500 bn")
The Reserve Bank of India fixed the ceiling for the outstanding balance under the market stabilisation scheme (MSS) at Rs 500 billion for the current fiscal year that started in April.
Under the MSS, the central bank issues bonds to absorb excess rupee liquidity from the market.
The ceiling will be reviewed when the outstanding balance reaches the threshold limit of Rs 350 billion , the central bank said in a statement on Thursday.
The current MSS outstanding balance is nil, the RBI said.
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