RBI to conduct OMO purchase of govt Securities for Rs 25,000 cr

Reserve Bank of India (RBI) will conduct Open Market Operation (OMO )purchase for an aggregate amount of Rs 25,000 crore. Read more on Dynamite News

Mumbai: The Reserve Bank of India (RBI) will conduct Open Market Operation (OMO )purchase for an aggregate amount of Rs 25,000 crore on Thursday.

The bank will purchase government securities through a multi-security auction using the multiple price method, reports Dynamite News correspondent.

It reserves the right to decide on the quantum of purchase of individual securities, accept bids for less than the aggregate amount, purchase marginally higher/lower than the aggregate amount due to rounding-off, accept or reject any or all the bids either wholly or partially without assigning any reasons, RBI said in a release