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Date : Aug 25, 2020
RBI Announces Special Open Market Operations (OMOs) of Simultaneous Purchase and Sale of Government of India Securities

On a review of current and evolving liquidity and market conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of ₹20,000 crores in two tranches of ₹10,000 crores each. The auctions would be conducted on August 27, 2020 and September 03, 2020.

2. The securities for the first multi-security auction, to be conducted using the multiple price method, on August 27, 2020 are as under:

Purchase

The Reserve Bank will purchase the following securities using the multiple price auction method:

Sr. No ISIN Security Date of Maturity Aggregate Amount
1 IN0020190396 6.18% GS 2024 04-Nov-2024 ₹ 10,000 crores
(There is no security-wise notified amount)
2 IN0020060078 8.24% GS 2027 15-Feb-2027
3 IN0020200070 5.79% GS 2030 11-May-2030
4 IN0020020106 7.95% GS 2032 28-Aug-2032

Sale

The Reserve Bank will simultaneously sell the following securities using the multiple price auction method:

Sr. No ISIN Security Date of Maturity Aggregate Amount
1 IN002020Y025 182 DTB 15102020 15-Oct-2020 ₹ 10,000 crores
(There is no security-wise notified amount)
2 IN002020Y033 182 DTB 22102020 22-Oct-2020
3 IN002020Y041 182 DTB 29102020 29-Oct-2020
4 IN002020Y058 182 DTB 06112020 06-Nov-2020

3. The Reserve Bank reserves the right to:

  • decide on the quantum of purchase/sale of individual securities.

  • accept bids/offers for less than the aggregate amount.

  • purchase/sell marginally higher/lower than the aggregate amount due to rounding-off.

  • accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.

4. Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on August 27, 2020. Only in the event of system failure, physical bids/offers would be accepted. Such physical bid/offer should be submitted to Financial Markets Operations Department (email; Phone no: 022-22630982/022-27595515) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 11.00 am.

5. The result of the auctions will be announced on the same day and successful participants should ensure availability of funds/securities in their Current account/SGL account, as the case may be, by 12 noon on August 28, 2020.

6. The securities for the second tranche auction on September 03, 2020 will be announced separately.

7. The Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/226


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