With an aim to ensure the availability of ample liquidity in the system in order to foster congenial financial conditions, the Reserve Bank of India (RBI) has decided to conduct purchase of Government securities under Open Market Operations (OMO) for an aggregate amount of Rs 20,000 crore on February 10, 2021.
The Reserve Bank reserves the right to decide on the quantum of purchase of individual securities, accept bids for less than the aggregate amount, purchase marginally higher/lower than the aggregate amount due to rounding-off and accept or reject any or all the bids either wholly or partially without assigning any reasons.
As per the RBI’s notification, eligible participants should submit their bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on February 10, 2021. Only in the event of system failure, physical bids would be accepted.