RBI announces special OMO of simultaneous purchase and sale of government securities

The Reserve Bank of India (RBI) said on Thursday it will conduct simultaneous purchase and sale of government securities under open market operations (OMOs) for Rs 10,000 crore each on April 27.

Eligible participants should submit their bids and offers in electronic format on the RBI core banking solution (E-Kuber) system between 10 and 11 am.

The result of auctions will be announced on the same day and successful participants should ensure availability of funds and securities in their current account or SGL account by 12 noon on April 28.

With the heightening of COVID-19 pandemic risks, certain financial market segments have been experiencing a tightening of financial conditions as reflected in the hardening of yields and widening of spreads.

The central bank has been constantly reviewing current and evolving liquidity and market conditions.

( With inputs from ANI )