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RBI announces OMO purchase of government securities on Jan 17

Reserve Bank will inject 10,000 crore rupees into the system through the purchase of government securities tomorrow to increase liquidity. The central bank said in a statement that the purchase will be made through open market operations (OMOs).

The statement said the eligible participants should submit their offers in electronic format on the RBI Core Banking Solution (E-Kuber) system. The result of the auction will be announced tomorrow itself and payment to successful participants will be made on the following day.

The RBI plans to inject liquidity under OMOs for 50,000 crore rupees this month.

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