After a review of current liquidity and financial conditions, the Reserve Bank of India (RBI) has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of Rs 10,000 crore each on January 07, 2021.
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 and accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.
The RBI further noted that 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 January 07, 2021. Only in the event of system failure, physical bids/offers would be accepted.