RBI to conduct simultaneous purchase and sale of govt securities on Sept 10

The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each on September 10.

 

The central bank Yesterday said it would be selling three securities totalling Rs 10,000 crore and also purchasing equal number of securities of the same amount.

 

The result of the auctions will



be announced on the same day.

 

According to RBI statement, the second tranche of auction would be conducted on September 17.

 

Simultaneous purchase and sale of government securities under OMOs, popularly known as Operation Twist, involves purchasing G-Sec of longer maturities and selling equal amount of G-Sec of shorter maturities.