RBI steps in with liquidity line for mutual funds

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The Reserve Bank of India has launched a new liquidity facility for mutual funds, amid signs of intense pressures starting to spread across the industry.

The central bank unveiled the 500 billion rupee ($6.6 billion) facility today (April 27), as Franklin Templeton said it was halting withdrawals and would be closing down six of its riskier Indian debt funds, which it described as “yield-oriented”.

“This extraordinarily diffi­cult decision to close six of our schemes… was taken as it was the

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