RBI to conduct special OMOs on November 19

MUMBAI: The Reserve Bank of India (RBI) on Thursday announced special open market operations (OMO) simultaneous purchase and sale of government of India securities on November 19, after a review of the current liquidity and financial conditions.

The central bank will conduct simultaneous purchase and sale of government securities under OMO for an aggregate amount of Rs 10,000 crores each.

The details are as follows:

The central bank said it reserves the right to decide on the quantum of purchase/sale of individual securities, accept bids/offers for less than the aggregate amount, and accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.

Since the announcements made in the Statement on Developmental and Regulatory Policies of October 9, the central bank has expanded the scale of outright OMO purchases of government of India securities from Rs 10,000 crore to Rs 20,000 crore per auction.