The Reserve Bank of India (RBI) on Monday announced a special liquidity facility worth Rs 50,000 crore for mutual funds, in a bid to ease liquidity pressures in the sector as well as lift investors’ confidence days after US-based Franklin Templeton wound up six of its India funds. The central bank cited heightened volatility in capital markets in reaction to the coronavirus (COVID-19) pandemic, which it said has imposed liquidity strains on mutual funds. Banking and financial services stocks registered sharp gains in morning deals.
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