Money & Banking

RBI's OMO auction attracts bids 2.63 times the notified amount

Our Bureau Mumbai | Updated on March 27, 2020

The open market operation (OMO) of four government securities on Thursday attracted bids aggregating 2.63 times the amount (₹15,000 crore) notified by the Reserve Bank of India (RBI). In absolute terms, the RBI received bids aggregating ₹39,529 crore and accepted bids aggregating ₹15,000 crore.

This auction was originally scheduled for March 30. But on a review of the current liquidity and financial conditions, the Reserve Bank decided to advance the purchase of Government securities under OMOs for ₹15,000 crore to March 26.

At the OMO purchase auction of four government securities conducted on Tuesday, the RBI received bids aggregating 3.43 times the amount (₹15,000 crore) notified by the RBI.

Published on March 26, 2020

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