 "RBI")
The Reserve Bank of India (RBI) will buy bonds worth Rs 30,000 crore from the secondary market, after buying Rs 10,000-crore bonds on Friday, to infuse durable liquidity into the system so that the market continues to function normally amid a coronavirus-induced slowdown.
The central bank received bids worth Rs 45,049 crore for Friday’s open market operation (OMO), through which the RBI bought Rs 10,000 crore of bonds. The response showed that the market needed liquidity support from the RBI.
“The response to the open market purchase auction conducted on March 20 has been positive,” the RBI said in a statement.
“Meanwhile, with
