RBI to conduct sale and purchase of government securities worth Rs 10,000 crore through OMO on May 6- check details
The Reserve Bank of India on Thursday decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of ₹10,000 crore each on May 6, 2021.
The Reserve Bank of India on Thursday decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of ₹10,000 crore each on May 6, 2021.
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The Reserve Bank of India will simultaneously sell securities using the multiple price auction method.
The Reserve Bank has said that it reserves the right to decide on the quantum of purchase/sale of individual securities. It said it also reserves the right to accept bids/offers for less than the aggregate amount, purchase/sell marginally higher/lower than the aggregate amount due to rounding-off.
Besides, it will decide whether to accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.
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 May 06, 2021. Only in the event of system failure, physical bids/offers would be accepted.
"Such physical bid/offer should be submitted to Financial Markets Operations Department (email; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 11:00 am," said the RBI presser
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 May 07, 2021.
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