RBI to conduct purchase, sale of G-secs on Thursday

RBI to conduct purchase, sale of G-secs on Thursday

Mumbai: The Reserve Bank on Monday said it will conduct an open market purchase of government securities aggregating to Rs 15,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) on September 23. On a review of current liquidity conditions, the central bank also decided to conduct a simultaneous sale of government securities under open market operations (OMO) for an aggregate amount of Rs 15,000 crore on the same day.

In a statement, the RBI said it will purchase three government securities of different maturity dates amounting to Rs 15,000 crore. It will also sell three government securities amounting to Rs 15,000 on September 23.

The central bank further said it reserves the right to decide on the quantum of purchase and sale of individual securities.

The result of the auctions will be announced on the same day.

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