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| Edited By: |Source: Reuters |Updated: Mar 17, 2018, 02:16 AM IST
The Reserve Bank of India (RBI) has extended the time frame for banks to comply with its rules on loans to mutual funds and issue of irrevocable payment commitments to stock exchanges till June 30, 2010.
In December 2007, the Reserve Bank had unveiled guidelines on banks' financing to funds for meeting temporary liquidity needs.
It had also released rules on issue of irrevocable payment commitments by banks to exchanges on behalf of funds to facilitate client transactions.
Ahead of the latest extension, the RBI had earlier allowed time till December 31 to comply with the rules.
