RBI announces Open Market Operation to ease liquidity

The Reserve Bank of India (RBI), the central banking agency of India, said it might infuse up to Rs 12,000 crore this week via Open Market Operations (OMO), to ease liquidity pressure on economy and create appetite for fresh supply of government bonds.

The central bank will purchase four lots of government securities using the multiple price method. This will be the first OMO conducted by RBI in the current financial year 2012-13.

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