RBI announces OMO purchase of Government of India dated securities

MUMBAI, June 12: Based on an assessment of prevailing liquidity conditions and durable liquidity needs, the Reserve Bank of India (RBI) has announced  Open Market Operations (OMO)  purchase of Government of India Dates Securities.

It has  decided to conduct purchase of the following Government securities  under Open Market Operations for an aggregate amount of Rs 150 billion on Thursday through multi-security auction using the multiple price method.

It further said there is an overall aggregate ceiling of Rs 15,000 crore for all the securities in the basket put together and there is no security-wise notified amount.

The participants have to submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

The result of the auction will be announced on the same day and payment to successful participants will be made on the following day.

The RBI uses open market operations (OMO) for injecting liquidity into the system through the purchase of government bonds (G-sec).