 "RBI to conduct simultaneous purchase, sale of govt securities next week")
The Reserve Bank on Thursday announced to conduct simultaneous purchase and sale of government securities under open market operations (OMOs) for Rs 10,000 crore each on November 26.
The decision was taken after a review of the current liquidity and financial conditions, the RBI said in a statement.
Simultaneous purchase and sale of government securities under OMOs, popularly known as Operation Twist, involves purchasing G-Sec of longer maturities and selling equal amount of G-Sec of shorter maturities.
On November 26, the RBI will purchase three government securities of different maturity dates aggregating to Rs 10,000 crore and sell two securities aggregating to the same amount using the multiple price auction method.
The RBI further said it reserves the right to decide on the quantum of purchase/sale of individual securities.
The result of the auctions will be announced on the same day.
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