RBI Receives Rs 64,746 Crore Bids in Purchase Auction of Special Open Market Operation

The Reserve Bank of India (RBI) on Monday received Rs 64,746 crore worth of bids or more than six times the amount it proposed to buy government bonds through the special open market operation (OMO).

In the OMO sale auction, the RBI received Rs 50,260 crore of bids for four securities.

The RBI last week had announced simultaneous purchase as well as sale of government securities under open market operations (OMO) for Rs 10,000 crore each.

The RBI bought four securities - 7.59 per cent-2026, 7.17 per cent- 2028, 7.26 per cent-2029 and 7.61per cent-2030 in the OMO purchase auction.

The RBI received 141 bids for 7.26 per cent-2029 security but accepted only 12 bids in OMO purchase auction. The central bank had announced to sell 77-day and 84-day cash management bills and two treasury bills of 182-day and 364-day.

The RBI received 22 bids for 182-day treasury bills but accepted four bids in OMO sale auction.