RBI announces Open Market Operations (OMO) Purchase of Government of India Securities

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 September 25, 2020.

Sep 17, 2020 04:09 IST India Infoline News Service

Reserve Bank of India
On a review of the current liquidity and financial conditions, the Reserve Bank has decided to conduct the purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs10,000cr on September 24, 2020.

The Reserve Bank 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.

Eligible participants should submit their bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on September 24, 2020. Only in the event of system failure, physical bids/offers would be accepted. Such physical bid/offer should be submitted to Financial Markets Operations Department in the prescribed form obtainable from RBI website before 11.00 am.

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 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 Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets.

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