RBI to conduct simultaneous sale-purchase of govt securities next week

The Reserve Bank of India on Thursday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10.

The decision was taken after a review of current liquidity and financial conditions, RBI said in a statement. On March 10, RBI will purchase four government securities of different maturity dates aggregating to Rs 20,000 crore and sell three securities aggregating to Rs 15,000 using the multiple price auction method.

Further, the central bank 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.