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RBI continues secondary market OMO purchases in third week of April

RBI continues secondary market OMO purchases in third week of April

The Reserve Bank of India (RBI) has been continuing its secondary market purchase of government securities, which market participants indicate is likely to be treasury bills, via open market operation (OMO) purchases in the third week of April after similar purchases were noted during the second week.

The central bank conducted OMO purchases worth Rs 16,424 crore between April 13 and April 17, according to the weekly statistical supplement extract put out by the central bank on Friday. Although there is no concrete proof, experts believe a large chunk of this is likely to be T-Bill purchases by the RBI from the secondary market.

According to the WSS data, the central bank has conducted Rs 14,989 crore worth of OMO purchases on April 17. In the week prior to this, the central bank conducted OMO purchases of Rs 14,660 crore between April 7 and April 9. Experts had indicated that this was also likely to be T-Bill purchases from the central bank.

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