RBI to buy, sell govt bonds worth Rs.10,000 crore on December 23

The Reserve Bank of India (RBI) on Monday will simultaneously purchase and sell government securities worth 10,000 crore rupees under a special Open Market Operation (OMO).

Such exercises are done by the central bank when the proceeds from the sale of short-term securities are used to buy long-term government



securities or bonds in a bid to bring down interest rates on long-term securities.

RBI said, the eligible participants should submit their bids/offers in electronic format on the RBI's Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on 23rd of this month.