January 22, 2021

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RBI pronounces particular OMO of buy, sale of govt securities price Rs 20,000 crore

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RBI announces special OMO of purchase, sale of govt securities worth Rs 20,000 crore
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RBI pronounces particular OMO of buy, sale of govt securities price Rs 20,000 crore

The Reserve Financial institution of India (RBI) on Tuesday introduced that it’s going to once more conduct simultaneous buy and sale of presidency securities below the open market operation (OMO) for Rs 20,000 crore in two tranches of Rs 10,000 crore every. The auctions will likely be performed on August 27 and September 3.

With the heightening of COVID-19 pandemic dangers, sure monetary market segments have been experiencing a tightening of monetary circumstances as mirrored within the hardening of yields and widening of spreads.

RBI additionally added that it’s going to purchase authorities securities together with 6.18 per cent, 8.24 per cent, 5.79 per cent and seven.95 per cent maturing on November 4, 2024, February 15, 2027, Could 11, 2030, and August 28, 2032, respectively.

However, it would promote securities that mature between October 2020 and November 2020. The RBI has been continually reviewing present and evolving liquidity and market circumstances.

Eligible individuals ought to submit their bids and provides in digital format on the RBI core banking resolution (E-Kuber) system between 10 and 11 am.

The results of auctions will likely be introduced on the identical day and profitable individuals ought to guarantee availability of funds and securities of their present account or SGL account by 12 midday on August 28. 

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