December 24, 2024 10:44 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Five soldiers killed, several injured as Army truck falls into Poonch gorge | Allu Arjun quizzed by police in Pushpa 2 stampede case | Wanted Indian drug smuggler killed in the US | Congress leader files complaint against Allu Arjun for 'insulting police' in Pushpa 2: The Rule | Ahead of Jaishankar's US visit, foreign secretary Vikram Misri meets top US diplomats | India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people | Kuwait PM personally sees off Modi at airport as Indian premier concludes two-day trip

RBI announces OMO purchase of Government of India Dated Securities

| | Mar 15, 2016, at 06:44 pm
# Reserve Bank of India # Open Market Operations
Mumbai, Mar 15 (IBNS) The Reserve Bank of India (RBI), based on its current assessment of prevailing and evolving liquidity conditions, has decided to conduct purchase of Government securities under Open Market Operations (OMO) for an aggregate amount of Rs150 billion on Thursday (March 17, 2016) through multi-security auction using the multiple price method:
Sr. No Security Date of Maturity
1 8.27% GS 2020 9-Jun-2020
2 8.35% GS 2022 14-May-2022
3 8.40% GS 2024 28-Jul-2024
4 8.33% GS 2026 9-Jul-2026
5 8.60% GS 2028 2-Jun-2028
6 8.32% GS 2032 2-Aug-2032

 

There is an overall aggregate ceiling of Rs150 billion for all the securities in the basket put together. There is no security-wise notified amount.
 
RBI, in its notification, has said that it reserves the right to:
• Decide on the quantum of purchase of individual securities.
• Accept less than the aggregate amount of Rs150 billion.
• Purchase marginally higher than the aggregate amount due to rounding off effects and other relevant factors. 
• Accept or reject any or all of the offers either wholly or partially without assigning any reason.
 
The central bank has said that eligible participants should submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on Thursday (March 17). Only in the event of system failure, physical offers would be accepted.
 
The result of the auction will be announced on Thursday and payment to successful participants will be made during banking hours on Friday (March 18, 2016)
 
RBI has said that successful participants have to make available the requisite amount of securities in their SGL account by 12 noon on Friday (March 18).  

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am
In Images: Glimpses from Bengali film Fatafati's premiere
In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm
Gautam Adani meets Bangladesh PM Sheikh Hasina
Gautam Adani meets Bangladesh PM Sheikh Hasina Sep 06, 2022, at 06:46 am