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Published on 5/03/2021 10:18:24 AM | Source: Accord Fintech

RBI to conduct simultaneous sale-purchase of government securities under OMO on March 10

Posted in Economy News| #RBI #Economy #Banking Sector #Government

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On a review of current liquidity and financial conditions, the Reserve Bank of India (RBI) has said that it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10, 2021. RBI will purchase four government securities of different maturity dates aggregating to Rs 20,000 crore and it will sell three securities aggregating to Rs 15,000 using the multiple price auction method.

The result of the auctions will be announced on the same day and successful participants should ensure availability of funds/securities in their Current account/SGL account, as the case may be, by 12 noon on March 12, 2021.

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

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