The Reserve Bank of India (RBI) on 6th August, 2020 issued an optional Automated Sweep-In and Sweep-Out (ASISO) facility in its e-Kuber System. The facility seeks to optimize human resource deployment due to disruptions caused by COVID-19. It also aims to foster greater flexibility to eligible Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) participants to manage their end of day Cash Reserve Ratio (CRR) balances.
Accordingly, banks can set a specific amount or range to maintain as balances at the end of the day, in their current accounts with the RBI. Based on this set amount, MSF and Reverse Repo Bids will be generated automatically at the end of the day.
All eligible LAF and MSF participants can use the ASISO facility by enabling it in the e-Kuber portal, from 6th August, 2020. This facility is optional and is an addition to the existing mechanism of manually placing bids in the Reverse Repo and MSF windows of the e-Kuber portal.
The Annexure to the Circular provides detailed guidelines and illustrations on the ASISO facility.
