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Date : Nov 05, 2020
RBI Announces Special Open Market Operations (OMO) of Simultaneous Purchase and Sale of Government of India Securities

Since the announcements made in the Statement on Developmental and Regulatory Policies of October 9, 2020 the Reserve Bank has expanded the scale of outright open market operations (OMOs) purchases of Government of India securities from ₹10,000 crore to ₹20,000 crore per auction. OMO purchase auctions in State Development Loans (SDLs) are also being conducted, as announced. The total amount of OMOs conducted in the second half of 2020-21 has been of the order of ₹66,305 crore so far. The response has been positive in both primary and secondary market auctions. Accordingly, based on an ongoing assessment of liquidity conditions, the Reserve Bank will continue to conduct OMO purchase auctions in amounts of ₹20,000 crore as well as OMOs in SDLs, along with other operations, to support market sentiment and assure adequate liquidity all along the yield curve. Details of these operations will be notified separately.

On a review of the current liquidity and financial conditions, the Reserve Bank has decided to conduct Open Market Operations (OMOs) involving a simultaneous purchase and sale of government securities for an aggregate amount of ₹10,000 crore each on November 12, 2020.

2. Accordingly, the details of securities for the simultaneous purchase and sale of government securities under Open Market Operations (OMOs) for ₹10,000 crore each on November 12, 2020 are as follows:

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 IN0020160035 6.97% GS 2026 6-Sep-2026 ₹10,000 crore
(There is no security-wise notified amount)
2 IN0020180454 7.26% GS 2029 14-Jan-2029
3 IN0020190065 7.57% GS 2033 17-Jun-2033

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 IN002020Z030 364 DTB 22042021 22-Apr-2021 ₹10,000 crore
(There is no security-wise notified amount)
2 IN002020Z048 364 DTB 29042021 29-Apr-2021
3 IN002020Z055 364 DTB 07052021 07-May-2021

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 November 12, 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) 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 November 13, 2020.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/597


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