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Home >Economy >RBI to conduct special OMOs of 10,000 crore on May 6

The Reserve Bank of India (RBI) has announced special Open Market Operations (OMO) under which the central bank will conduct simultaneous purchase and sale of government of India securities (G-sec.

On a review of current liquidity and financial conditions, the Reserve Bank of India has decided to conduct simultaneous purchase and sale of Government securities under Open Market Operations (OMO) for an aggregate amount of 10,000 crore each on May 06, 2021, the central bank said in a release.

Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on May 06, 2021. 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 May 07, 2021, it said.

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