In wake of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank of India (RBI) has decided to conduct simultaneous purchase and sale of government securities (G-Secs) under Open Market Operations (OMO) for Rs 10,000 crore each on January 23, 2020.
As per the notification, RBI reserves the right to decide on the quantum of purchase/sale of individual securities; accept bids/offers for less than the aggregate amount as well as purchase/sell marginally higher than the aggregate amount due to rounding-off effects.
The Apex Bank also reserves the right to accept or reject any or all the bid/offers either wholly or partially without assigning any reasons. It asked eligible participants to submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 23, 2020.
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