Business Other News 23 Mar 2020 RBI prepones second ...

RBI prepones second tranche of g-sec buying to March 26

PTI
Published Mar 23, 2020, 3:22 pm IST
Updated Mar 23, 2020, 6:09 pm IST
RBI has decided to advance second tranche of purchase of government securities under open market operations for Rs 15,000 crore to March 26
Reserve Bank of India. (Image- PTI)
 Reserve Bank of India. (Image- PTI)

Mumbai: The Reserve Bank of India (RBI) on Monday said it has preponed the second tranche of purchase of Rs 15,000 crore of government securities under open market operations (OMOs) to March 26.

The OMO purchase auction was earlier scheduled for March 30.

 

"On review of current liquidity and financial conditions, the RBI has decided to advance the second tranche of purchase of government securities under OMOs for Rs 15,000 crore to March 26, 2020," the RBI said in a release.

The four government bonds to be bought by the RBI in the auction include 8.08 per cent-2022; 7.68 per cent-2023; 7.27 per cent-2026 and  7.17per cent-2028, the release said.

These bonds will be purchased through a multi-security auction using the multiple price method.

The first tranche of OMO purchase auction worth Rs 15,000 crore will be conducted on March 24.

Last week, the RBI said it would conduct two OMO purchase auctions worth Rs 30,000 crore in two tranches in March to provide liquidity to the market.

The RBI had said that with COVID-19-related dislocations, stress in certain financial market segments is still severe and financial conditions remain tight.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT