RBI Announces OMO Purchase of Government of India Dated Securities
March, 07th 2016
Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations for an aggregate amount of ₹ 150 billion on March 10, 2016 (Thursday) through multi-security auction using the multiple price method:
Date of Maturity
7.83% GS 2018
April 11, 2018
8.12% GS 2020
December 10, 2020
8.83% GS 2023
November 25, 2023
7.72% GS 2025
May 25, 2025
8.28% GS 2027
September 21, 2027
7.88% GS 2030
March 19, 2030
There is an overall aggregate ceiling of ₹ 150 billion for all the securities in the basket put together. There is no security-wise notified amount.
RBI reserves the right to:
Decide on the quantum of purchase of individual securities.
Accept less than the aggregate amount of ₹ 150 billion.
Purchase marginally higher than the aggregate amount due to rounding off effects and other relevant factors.
Accept or reject any or all of the offers either wholly or partially without assigning any reason.
The 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 March 10, 2016 (Thursday). Only in the event of system failure, physical offers would be accepted. Such physical offer should be submitted to Financial Markets Operations Department (To send an email, please click here; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (www.rbi.org.in)
The result of the auction will be announced on the same day and payment to successful participants will be made during banking hours on March 11, 2016 (Friday). Successful participants may note to make available the requisite amount of securities in their SGL account by 12 noon on March 11, 2016 (Friday).