The Reserve Bank of India (RBI) on Monday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of Rs 10,000 crore each on February 25.
The central bank will purchase three government securities worth Rs 10,000 crore maturing in June 2025, October 2029 and December 2033.
The Reserve Bank will simultaneously sell two government securities maturing in November 2021 and February 2022 using the multiple price auction method.
Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on February 25, 2021, RBI said.
“The Reserve Bank reserves the right to decide on the quantum of purchase/sale of individual securities, accept bids/offers for less than the aggregate amount, purchase/sell marginally higher/lower than the aggregate amount due to rounding-off and accept or reject any or all the bid/offers either wholly or partially without assigning any reasons,” it added.
The result of the auction will be announced on the same day and successful participants should ensure availability of the requisite amount of securities in their SGL account by 12 noon on February 26, 2021, the central bank said.
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