RBI to sell Rs10,000 crore govt bonds via open market operations
Mumbai: The Reserve Bank of India (RBI) on Friday said it would sell government bonds worth Rs10,000 crore through open market operations (OMO) to mop up liquidity from the system.
“Based on the current assessment of prevailing and evolving liquidity conditions, the RBI has decided to conduct sale of government securities under open market operations for an aggregate amount of Rs100 billion on 28 September 2017 through multi-security auction using the multiple price method,” the central bank said in a statement.
As part of the OMO, the RBI will sell government securities maturing in 2019 (bearing interest rate of 7.28%), 2020 (8.12%), 2022 (8.15%), 2025 (8.20%) and 2028 (8.60%).
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