Three-day repos today: The RBI has announced a three-day fixed-rate repos in government of India dated securities on June 19 for parties holding SGL and current accounts with it at Mumbai. The repos rate is 5 per cent per annum. Payment by applicants will be on June 19 and the repurchase by the RBI on June 22.

500 notes still legal tender, says RBI: The RBI has issued a circular to all commercial and co-operative banks clarifying that Rs 500 notes continue to be legal tender and should, therefore, be accepted for all transactions. The RBI has also asked banks to instruct their branches to accept all Rs 500 notes and eschew creating avoidable panic in the minds of the public.