India sees 2015/16 net receipts of market stability scheme at 200 bln rupees

MUMBAI (Reuters) - The Indian government set aside 200 billion rupees ($3.24 billion) in net receipts under the market stabilisation scheme (MSS) in the fiscal 2015/16 year, according to the budget documents.

Under the MSS, the Reserve Bank of India sells government bonds to absorb excess liquidity from the banking system.

($1 = 61.6489 rupees)

(Reporting by Neha Dasgupta; Editing by Rafael Nam)