With an aim to ease the persistent liquidity deficit in the
banking system, the Reserve Bank of India (RBI) has doubled the amount of
government securities it will purchase in the next round of open market
operation (OMO) scheduled for February 13 to Rs 40,000 crore, from the Rs
20,000 crore announced earlier.
The RBI in its latest notification noted that on a review of
current and evolving liquidity conditions, the aggregate amount of OMO purchase
has now been revised to Rs 40,000 crore. Eligible participants must submit
their bids in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system between 10:30 am and 11:30 am on February 13, 2025.
Only in the event of system failure, physical bids will be accepted. Such physical bid should be submitted to Financial Markets Operation Department. The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on February 14, 2025.
Source: Ace Equity
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