 "The RBI's annoucment follows Franklin Templeton MF’s move to wind up six of its debt schemes amid liquidity crunch |Photo: Kamlesh Pednekar")
Financial stocks including Axis Bank, ICICI Bank and IndusInd Bank surged up to 6 per cent on the BSE on Monday after the Reserve Bank of India announced a Special Liquidity Facility (SLF) for Mutual Funds worth Rs 50,000 crore.
"Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate. The SLF-MF is on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday," the RBI said in a statement.
Funds availed under the SLF-MF shall be used by banks exclusively for meeting the
