Latest News | RBI to Conduct OMO of Rs 25,000-cr G-secs on Aug 26

Mumbai, Aug 18 (PTI) The Reserve Bank of India (RBI) on Wednesday said it will conduct an open market purchase of government securities of Rs 25,000 crore on August 26, under the G-sec Acquisition Programme (G-SAP 2.0).

Earlier this month, RBI Governor Shaktikanta Das had said the RBI's secondary market G-sec Acquisition Programme (G-SAP) has been successful in anchoring yield expectations while eliciting keen response from market participants.

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In his statement after the Monetary Policy Committee meeting, he had announced two more auctions of Rs 25,000 crore each under G-SAP 2.0. The first one was held on August 12.

In a statement on Wednesday, the central bank said it will purchase five government securities aggregating to Rs 25,000 crore through a multi-security auction using the multiple price method on August 26.

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It also said the RBI reserves the right to decide on the quantum of purchase of individual securities and accept bids for less than the aggregate amount.

The result of the auctions will be announced on the same day. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)