RBI announces special OMO of Rs 20,000 crore

RBI announces special OMO of Rs 20,000 crore

The Reserve Bank of India (RBI) on Tuesday said it will conduct a simultaneous purchase and sale of government securities under open market operations (OMO) for an aggregate amount of Rs 20,000 crore in two equal tranches.

The auctions will be held on August 27 and September 03.

The central bank added that it will buy government securities including 6.18 per cent, 8.24 per cent, 5.79 per cent and 7.95 per cent maturing on November 4, 2024, February 15, 2027, May 11, 2030 and August 28, 2032, respectively.

On the other hand, it will sell securities that mature between October 2020 and November 2020.

The central bank also said that it reserves the right to decide on the quantum of purchase or sale of individual securities, accept bids or offers for less than the aggregate amount, purchase or sell marginally higher or lower than the aggregate amount due to rounding off and to accept or reject any or all the bid/offers either wholly or partially without assigning any reasons