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

Reserve Bank of India
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Reserve Bank of India 

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The Reserve Bank of India on Thursday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10, 2021.

The Reserve Bank of India on Thursday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10, 2021.

The Reserve Bank said, the decision for the purchase and sale of the securities was taken after a review of current liquidity and financial conditions. 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.

Further, the Reserve Bank 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.

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.

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