Technical glitch in bank-RBI liquidity management system resolved

A technical glitch in the Automated Sweep-In and Sweep-Out System (ASISO), which allows lenders to manage their daily liquidity requirements with the Reserve Bank of India, was resolved on Wednesday, according to bank treasury officials.

The ASISO system, used by banks to park funds at the central bank’s Standing Deposit Facility and to borrow from its Marginal Standing Facility, experienced its first failure on Tuesday since its inception nearly four years ago. Banks said the central bank will investigate the issue to find what led to the outage.