Mumbai, September 7
The Reserve Bank of India (RBI) will conduct simultaneous buy and sale of presidency securities below the Open Market Operation (OMO) for Rs 10,000 crore every on September 10, the central financial institution stated on Monday.
The RBI on August 31 had introduced that it will conduct particular simultaneous buy and sale of presidency securities below OMO for an combination quantity of Rs 20,000 crore in two tranches of Rs 10,000 crore every as a part of its measures to foster orderly market circumstances.
“The first auction is scheduled for September 10, 2020,” the RBI stated in an announcement.
It could be promoting three securities totalling Rs 10,000 crore and likewise buying an equal variety of securities of the identical quantity.
The results of the auctions shall be introduced on the identical day.
The second tranche of the public sale could be carried out on September 17.
Simultaneous buy and sale of presidency securities below OMOs, popularly often called Operation Twist, includes buying G-Sec of longer maturities and promoting an equal quantity of G-Sec of shorter maturities. –PTI