Reserve Bank to purchase govt securities (G-secs) worth Rs.10,000 crore on Sept 19

The Reserve Bank to purchase government securities (G-secs) worth Rs 10,000 crore on September 19, a move aimed at inducing liquidity in the system. The purchase of the government securities will be done through Open Market Operations (OMO).

RBI said in a statement issued in Mumbai yesterday that based on an assessment of



prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of Government securities under OMO through multi-security auction using the multiple price method,"

The RBI proposes to purchase G-secs having five different maturity dates.