Mumbai: The Reserve Bank today said it would sell government bonds worth Rs. 10,000 crore through Open Market Operations (OMO) to mop up liquidity from the system.
“Based on the current assessment of prevailing and evolving liquidity conditions, the RBI has decided to conduct sale of government securities under Open Market Operations for an aggregate amount of Rs. 100 billion on September 28, 2017 through multi-security auction using the multiple price method,” the central bank said in a statement.
As part of the OMO, the RBI will sell government securities maturing in 2019 (bearing interest rate of 7.28 per cent), 2020 (8.12 per cent), 2022 (8.15 per cent), 2025 (8.20 per cent) and 2028 (8.60 per cent).