RBI to buy Rs 360 billion worth of govt bonds to ease liquidity conditions

Reserve Bank of India has decided to boost liquidity conditions in the market

The Reserve Bank of India (RBI) said on Monday it has decided to buy a total of Rs 360 billion worth government bonds under its open market operations (OMOs) this month, in a bid to ease liquidity conditions in the market.

The central bank said the auctions would be conducted during the second, third and fourth week of October. It said the OMO amount stated is indicative and RBI retains the flexibility to change it, depending on the evolving liquidity and market conditions.