Auctions, OMO to suck out Rs 14,500 crore from the banking system
The Reserve Bank of India (RBI) today announced a string of auctions and open market operations to suck out excess liquidity from the banking system.
The central bank will conduct an open market operation (OMO) tomorrow and auction two government securities on June 3.
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Collectively, these three papers will suck out Rs 14,500 crore from the system.
Further, on June 12 all state governments will raise additional funds under the debt swap scheme for an aggregate amount of Rs 7,000 crore.
The coupon and other details will be notified later. This will be the first tranche of state governments
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