The Reserve Bank of India on Thursday announced simultaneous sale and purchase of government securities worth Rs10,000 each via open market operations (OMO).
As per the notification, the RBI will purchase 6.45% of GS 2029 government bonds that will mature on October 7, 2029, for an aggregate amount of Rs10,000cr using the multiple price auction method.
The central bank said in the note that, "the Reserve Bank will sell 6.65% GS 2020 security (maturity date of April 9, 2020), 7.80% GS 2020 (May 3, 2020), 8.27% GS 2020 (June 9, 2020) and 8.12% GS 2020 (December 10, 2020) for an aggregate amount of Rs10,000cr".
The eligible participants can bid or submit offers in electronic format on RBI's Core Banking Solution (E-Kuber) system between 10.30 am and 12.00 noon on December 23.
The result of the auctions will be announced on the same day and successful participants should ensure availability of funds or securities by the next day, the central bank said.
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