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RBI s second tranche of OMO gets durable action

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The second tranche of purchase of government securities under open market operations (OMOs) received a robust response from the market, the Reserve Bank of India said on Thursday.

The central bank received bids for Rs 39,529 crore against Rs 15,000 crore notified by the RBI. This OMO purchase auction was earlier scheduled for March 30. "On review of current liquidity and financial conditions, the RBI has decided to advance the second tranche of purchase of government securities under OMOs for Rs 15,000 crore to March 26, 2020," the RBI said in a release on March 23. The four government bonds bought by the RBI in the auction include 8.08 per cent-2022; 7.68 per cent-2023; 7.27 per cent-2026 and 7.17per cent-2028. The first tranche of OMO purchase auction worth Rs 15,000 crore was conducted on March 24. Last week, the RBI said it would conduct two OMO purchase auctions worth Rs 30,000 crore in two tranches in March to provide liquidity to the market. The RBI had said that with Covid-19-related dislocations, stress in certain financial market segments is still severe and financial conditions remain tight.




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Category: Stock Market


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