RBI Announces Special Open Market Operation (OMO) Purchase and Sale of Government of India Dated Securities

The Reserve Bank of India announced simultaneous purchase and sale of government securities through special open market operations (OMOs) for Rs 10,000 crore each on December 30. On a review of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank has decided to conduct one more simultaneous purchase and sale of government securities under Open Market Operations (OMO) for ₹ 10,000 crores each on December 30, 2019, the RBI stated in a press release on Thursday. Earlier this week, the central bank had conducted a similar OMO and purchased securities worth Rs 10,000 crore and sold worth Rs 6,825 crore. The RBI further said that it 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 than the aggregate amount due to rounding-off effects, accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.

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