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RBI weighs new credit line for mutual funds hit by cash crunch
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India’s central bank is weighing opening a new credit facility for banks aimed at boosting their lending to mutual funds, which have been hit by a flood of redemptions, according to people with knowledge of the matter.
The Reserve Bank of India (RBI) and the finance ministry are in favor of a proposal from the industry regulator to open a cash window that fund houses can tap via their banks, the people said, asking not to be identified as the discussions are private.
Other measures to ease a growing cash crunch are being discussed and a final decision is expected soon, one of the people said.
Policy makers are concerned that stress among mutual funds will translate into higher borrowing costs for companies that depend on the sector for
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