 "Urban cooperative banks' business size may be capped at Rs 20,000 cr")
The Reserve Bank of India (RBI) conducted its first simultaneous ‘buy and sell’ open market operations (OMOs), in which it bought more bonds than it sold, showed results.
The central bank had planned to buy up to Rs 10,000 crore of 10-year bonds and sell up to Rs 10,000 crore of four short-term bonds. The auction results, however, showed that while the RBI bought its full quota of 10-year bonds, it sold just Rs 6,825 crore, in aggregate, of short-term bonds maturing in the next one year.
The trading session was extended by half an hour for the purpose. There
