Forex facility for fin firms withdrawn

The Reserve Bank of India (RBI) has decided to withdraw a short-term foreign currency funding facility provided to nonbanking financial and home finance firms, with immediate effect. "The decision has been taken after reviewing the current macro-economic conditions and improvements in the domestic credit and liquidity conditions," the RBI said in a statement released on Wednesday.
he Reserve Bank of India (RBI) has decided to withdraw a short-term foreign currency funding facility provided to nonbanking financial and home finance firms, with immediate effect. "The decision has been taken after reviewing the current macro-economic conditions and improvements in the domestic credit and liquidity conditions," the RBI said in a statement released on Wednesday.

Hindustan Times, New Delhi, 04-02-2010.