RBI to sell govt bonds worth Rs 10,000 crore via open mkt operations
30 Sept 2017 11:29 AM IST
Central bank wants to mop up liquidity from the system through sale.
The Reserve Bank also said monthly withdrawal limit of Rs 10,000 will be maintained even if a 'small account' has witnessed increase in annual permissible deposit of Rs 1 lakh.
Mumbai: The Reserve Bank of India (RBI) on Friday said it would sell government bonds worth Rs 10,000 crore through Open Market Operations (OMO) to mop up liquidity from the system.
"Based on the current assessment of prevailing and evolving liquidity conditions, the RBI has decided to conduct sale of government securities under Open Market Operations for an aggregate amount of Rs 100 billion on October 12, 2017 through multi-security auction using the multiple price method," the central bank said in a statement.
As part of the OMO, the RBI will sell government securities maturing in 2019 (bearing interest rate of 6.90 per cent), 2021 (7.80 per cent), 2022 (8.08 per cent), 2024 (7.35 per cent) and 2030 (7.88 per cent).
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