SBP provides Rs 23 billion to banks

State Bank of Pakistan has provided Rs 23.5 billion to the banks to inject funds into the Money Market. The central bank had received Rs 32.5 billion for re-buying T bills and Pakistan Investment Bonds. The bank has re-bought T bill and PIBs to mop up the financial deficiency in the money market. The duration of the re-bought T bills is four months while the interest rate is 12.53 percent.