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RBI to conduct simultaneous buy, sale of govt securities subsequent week

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Mumbai: The Reserve Bank on Thursday introduced to conduct simultaneous buy and sale of authorities securities underneath open market operations (OMOs) for Rs 10,000 crore every on November 26.

The choice was taken after a evaluation of the present liquidity and monetary circumstances, the RBI stated in an announcement.

Simultaneous buy and sale of presidency securities underneath OMOs, popularly referred to as Operation Twist, entails buying G-Sec of longer maturities and promoting equal quantity of G-Sec of shorter maturities.

On November 26, the RBI will buy three authorities securities of various maturity dates aggregating to Rs 10,000 crore and promote two securities aggregating to the identical quantity utilizing the a number of value public sale technique.

The RBI additional stated it reserves the precise to resolve on the quantum of buy/sale of particular person securities.

The results of the auctions might be introduced on the identical day.

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