The Reserve Bank of India (RBI) on Monday announced to conduct simultaneous purchase and sale of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 10,000 crores each on July 2.
The RBI will purchase four government securities with maturity ranging from 7 to 13 years using the multiple price auction method. Simultaneously, it will also sell securities with a maturity of 4 months to 10 months.
“On a review of current and evolving liquidity and market conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs 10,000 crores each on July 02, 2020,” the RBI release 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.
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 July 02.
The result of the auctions will be announced on the same day.
First Published: Jun 29, 2020 4:34 PM IST
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