The auctions for Repo/ Reverse repo operations under LAF will be conducted on all working days at Mumbai, excluding Saturdays, Sundays and holidays notified by the Government of Maharashtra under Negotiable Instruments Act, 1881 as well as RTGS holidays declared by RBI. The tenor of the LAF operations shall be one day (unless notified otherwise) and accordingly, the reversal leg of the transaction will fall due on the next working day excluding Saturdays, Sundays and holidays notified by the Government of Maharashtra under Negotiable Instruments Act, 1881 as well as RTGS holidays declared by the Reserve Bank of India.

There is no change in the existing terms and conditions under which the LAF auctions are conducted.

Ajit Prasad
Assistant General Manager

Press Release:2011-2012/1550