RBI to conduct OMOs worth Rs 10K cr on May 6

To pump up liquidity, the Reserve Bank of India will conduct a one-day 'Open Market Operations' on May 6 to simultaneous purchase and sell government securities.

The OMO session will see simultaneous purchase and sale of government securities worth Rs 10,000 crore.

Under this OMO, the RBI will sell short-term securities worth Rs 10,000 crore maturing in the current band next year and purchase long-term securities of an equal amount maturing between 2026 and 2030.

"On a review of current liquidity and financial conditions, the Reserve Bank of India 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 May 6, 2021," the RBI said in a statement. - IANS