New Delhi: RBI announced open market operation (OMO) as part of which it will carry out sale and purchase of G-securities worth Rs. 20000 crore in two tranches scheduled for August 27 and September 3.
The two tranches will be worth Rs 10,000 crore each on multi-security auction using multiple price method, said RBI in a statement.”Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on August 27, 2020,” the RBI added. The results of the auction will be announced on the same day.
The apex bank further said it will keep a tab on the emerging liquidity as well as market conditions and accordingly take steps ensuring financial markets function in an orderly way.
Last the RBI conducted OMO in October worth Rs. 10,000 crore for maintaining liquidity in the system.
