scorecardresearch
Follow Us:
Friday, April 23, 2021

RBI to inject Rs 10,000 cr into system through open market operations on Thursday

The RBI also announced an auction of a 12-day Government of India Cash Management Bill. The amount notified for the auction is Rs 30,000 crore.

By: PTI | Mumbai |
Updated: December 4, 2018 7:00:08 pm
In talks with RBI to fix economic capital framework: Govt The RBI also announced an auction of a 12-day Government of India Cash Management Bill. (Express Photo by Pradip Das)

The Reserve Bank of India (RBI) Tuesday said it would inject Rs 10,000 crore into the system through the purchase of government securities on December 6 to increase liquidity. The purchase will be made through open market operations (OMOs).

“Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct the purchase of … government securities under open market operations for an aggregate amount of Rs 100 billion on December 6, 2018 (Thursday),” the central bank said.

The OMO operation will help ease tight liquidity situation triggered by a series of defaults by group companies of IL&FS. The eligible participants should submit their offers in electronic format on the RBI Core Banking Solution (E-Kuber) system on December 6. The result of the auction will be announced on the same day and payment to successful participants will be made on the following day.

The RBI also announced an auction of a 12-day Government of India Cash Management Bill. The amount notified for the auction is Rs 30,000 crore.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement
X
x