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Govt raises MSS cap to Rs 6 lakh crore to manage liquidity
Government in consultation with the RBI today sharply raised the Market Stabilisation Scheme (MSS) ceiling to Rs 6 lakh crore from Rs 30,000 crore to mop up extra liquidity from the system in view of demonetisation. Consequently, there has been a significant increase of liquidity in the banking system that is expected to continue for some time. MSS bonds are issued with the objective of providing the central bank with a stock of securities with which it can intervene in the market for managing liquidity.
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