The Reserve Bank of India (RBI) to infuse Rs 8,000 cr into market via Open Market Operations (OMOs).
The Reserve Bank of India (RBI) on December 24, 2012 said it will pump in Rs 8,000 crore in the market on December 28 by buying government securities to ease the liquidity situation.
“Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct Open Market Operations (OMOs) by purchasing…government securities for an aggregate amount of Rs 8,000 crore on December 28, 2012,” the RBI said in a statement.
As part of the OMOs, the RBI will purchase government securities maturing in 2017 (bearing interest rate of 8.07 per cent), 2022 (8.15 per cent), and 2027 (8.26 per cent).
The RBI on December 21 had pumped in Rs 7,912.22 crore in the system through the OMOs as against the notified amount of Rs 8,000 crore.