new Delhi. The Reserve Bank of India (RBI) said on Tuesday that it would conduct simultaneous purchase and sale of government securities under free market operations (OMOs). Under this two-stage process, securities worth Rs 20,000 crore will be bought and sold.
The Reserve Bank said in a statement on Tuesday that the auction will be held in two phases on August 27 and September 3. Government securities will be bought and sold for Rs 10,000-10,000 crore in both phases.
The central bank said that after a review of the current situation and cash and market conditions, the Reserve Bank has decided to simultaneously buy and sell government securities under OMO. It will be in two phases of Rs 10,000-10,000 crore. The Reserve Bank said that it would sell four securities worth Rs 10,000 crore on August 27. He will also purchase four securities of the same amount. The second phase will be auctioned on September 3. It will be announced separately.
The Reserve Bank said that it would continuously monitor liquidity and market conditions and would also take appropriate measures to ensure the orderly functioning of the capital market. The same-time buy-sell program of government securities will include the purchase of long-term government securities and short-term securities of similar value.
This post was published on August 25, 2020 1:39 pm
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