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RBI announces OMO purchase of government securities worth Rs 10,000 crore

RBI announces OMO purchase of government securities worth Rs 10,000 crore

RBI announces OMO purchase of government securities worth Rs 10,000 crore
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By CNBCTV18.com Sept 17, 2020 6:07:45 PM IST (Published)

The Reserve Bank of India (RBI) on Thursday announced another round of open market operations (OMO) to be conducted on September 24.

The Reserve Bank of India (RBI) on Thursday announced another round of open market operations (OMO) to be conducted on September 24.

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The central bank will purchase government securities worth Rs 10,000 crore maturing in September 2026, October 2029 and September 2031.
"The Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets," the bank said in a release.
The result of the auction will be announced on the same day and successful participants should ensure availability of requisite amount of securities in their SGL account by 12 noon on September 25, 2020, the central bank said.
The RBI reserves the right to decide on the quantum of purchase of individual securities, accept bids for less than the aggregate amount, purchase marginally higher than the aggregate amount due to rounding-off, accept or reject any or all the bids either wholly or partially without assigning any reasons, apex bank added.
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