Financial Daily from THE HINDU group of publications
Wednesday, Dec 31, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 31, 2003 |
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Money & Banking
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Govt Bonds RBI announces auction, OMO for early Jan Our Bureau
Mumbai , Dec. 30 THE Reserve Bank of India has announced an auction and an open market operation (OMO) in the first week of January 2004. A Rs 5,000-crore Government of India price-based auction has been announced for January 6 of the 7.38 per cent 2015 paper. Alongside, a Rs 5,000-crore OMO has been announced for January 7 of the 5.87 per cent 2022 paper. The markets, which were earlier in an optimistic mood with the turn of the year, were taken by surprise with the OMO announcement. The Government's interest payments of Rs 8,000 crore of the special deposit scheme to provident funds on January 1 is expected to be absorbed by the auction and the OMO, said the chief dealer in a state-run bank.
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