RBI to purchase Rs 10,000 crore Government securities through OMO on Thursday

The Reserve Bank today announced a purchase of Government securities of up to Rs 10,000 crore on June 21 to help in liquidity management.

"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations (OMO)," the central bank said.

The OMO will be carried out on June 21 through multi-security auction using the multiple price method and will involve purchase of five securities maturing between 2020 and 2032, it said.

The overall aggregate amount has been set at Rs 10,000 crore and there is no security-wise notified amount, it said.