NEW DELHI: The Reserve Bank of India (RBI) on Monday (April 27) opened a three-month liquidity facility of 500 billion rupees (about 6.5 billion dollars) for mutual funds facing pressure due to capital market volatility brought on by the Covid-19 (coronavirus) pandemic.
The RBI's move to boost investor confidence comes days after US-based investment management firm Franklin Templeton wound down six of its India funds, citing severe market dislocation and redemption pressure caused by the virus outbreak.
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