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RBI Announces OMO Purchase of Government of India Dated Securities

Capital Market 

The of India on Tuesday, announced open market operations (OMO) purchase of based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward. The Reserve has decided to conduct purchase of the following Government securities under Open Market Operations for an aggregate amount of ₹150 billion on June 13, 2019 (Thursday) through multi-auction using the multiple price method.

The different classes of include 7.80% GS 2021, 8.83% GS 2023, 7.59% GS 2026, 7.59% GS 2029, 7.88% GS 2030, 7.50% GS 2034. There is an overall aggregate ceiling of ₹150 billion for all the securities in the basket put together. There is no security-wise notified amount. RBI reserves the right to decide on the quantum of purchase of individual securities, accept offers for less than the aggregate amount of ₹150 billion, purchase marginally higher than the aggregate amount due to rounding-off effects, accept or reject any or all the offers either wholly or partially without assigning any reason.

The eligible participants should submit their offers in electronic format on the of India Core Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on June 13, 2019 (Thursday). The result of the auction will be announced on the same day and payment to successful participants will be made during hours on June 14, 2019 (Friday).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 12 2019. 09:49 IST