Ceiling on market stabilisation raised to Rs 80,000 crore
By Our Market Bureau | 27 Aug 2004
Mumbai: The government has raised the ceiling of the Market Stabilisation Scheme (MSS) to Rs 80,000 crore from the existing level of Rs 60,000 crore. The revision was made by the government on the request of the Reserve Bank of India.
The threshold limit of amount outstanding under the MSS has crossed the Rs 50,000 crore mark and the RBI had accordingly informed the government, said a RBI press release.
The threshold level at which the ceiling will be reviewed in the future, has also been revised upward to Rs 70,000 crore from Rs 50,000 crore previously. The indicative schedule of issuance of securities under MSS for the quarter July-September 2004 has remained unchanged.
