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RBI announces 28-Day Variable Rate Repo Auction and OMO Purchase of Government of India Dated Securities
December, 08th 2015

Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank of India (RBI) has decided to conduct the following operations:

  1. 28-day variable rate repo auction for a notified amount of ₹ 250 billion on December 4, 2015 (Friday). The auction will be conducted between 12.30 p.m. and 1.00 p.m. as per the revised guidelines on Term Repo Auctions issued on February 13, 2014. Successful bidders will get the allotment at their respective bid rates. Bids at or below the repo rate will be rejected. The reversal of the 28-day variable rate repo will take place on January 1, 2016 (Friday).

  2. Open Market Operations by purchasing the following government securities for an aggregate amount of ₹ 100 billion on December 7, 2015 (Monday) through auction using the multiple price method:

Sr. No Security Date of Maturity
1 7.83% GS 2018 11-Apr-2018
2 7.28% GS 2019 3-Jun-2019
3 8.40% GS 2024 28-Jul-2024
4 7.88% GS 2030 19-Mar-2030

The overall aggregate ceiling of ₹100 billion applies to all the securities in the basket put together. There is no security-wise notified amount.

The Reserve Bank reserves the right to:

• decide on the quantum of purchase of individual securities.

• accept less than the aggregate amount of ₹100 billion.

• purchase marginally higher than the aggregate amount due to rounding effects.

• accept or reject any or all of the offers either wholly or partially without assigning any reason.

Eligible participants should submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on December 7, 2015 (Monday). Only in the event of system failure, physical offers would be accepted. Such physical offer should be submitted to Financial Markets Operations Department (email: Phone no: 022-22630982) in the prescribed form obtainable from RBI website (


The result of the auction will be announced on the same day and payment to successful offerers will be made during banking hours on December 8, 2015 (Tuesday). Successful offerers may note to make available the requisite amount of securities in their SGL account by 12 noon on December 8, 2015 (Tuesday).

Alpana Killawala
Principal Chief General Manager

Press Release : 2015-2016/1301

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