You are here: Home » Finance » News » Banks
Business Standard

RBI to purchase G-secs worth Rs 100 bn next week to induce liquidity

The RBI proposes to purchase G-secs having five different maturity dates

Press Trust of India  |  Mumbai 

RBI, Reserve Bank of India

The on Friday announced it will purchase (G-secs) worth Rs 100 billion on September 19, a move aimed at inducing liquidity in the

The purchase of the will be done through Operations (OMO).

"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the has decided to conduct purchase of under Operations for an aggregate amount of Rs 100 billion on September 19, 2018 (Wednesday) through multi-security auction using the multiple price method," it said in a statement.

The proposes to purchase having five different maturity dates.

It further said there is an overall aggregate ceiling of Rs 100 billion for all the securities in the basket put together.

"There is no security-wise notified amount," the central bank said.

The eligible participants have been asked to submit their offers in electronic format on the RBI's Core Banking Solution (E-Kuber) on September 19.

The result of the auction will be announced on the same day and payment to successful participants will be on Friday.

First Published: Fri, September 14 2018. 21:06 IST