The Reserve Bank will infuse cash of Rs 30,000 crore into the market next week through the purchase sale (open market movements-OMO) of bonds with a view to maintaining stability in the market.
The central bank said in a statement that the RBI will arrange for the purchase and sale of government securities through open market activities. The purchase will be of Rs 30,000 crore and will be done in two installments. This purchase will be Rs 15,000-15,000 crore in the same month. According to the statement, the auction will be held on March 24 and 30.
The Reserve Bank said that the situation in some financial markets still remains critical and tight due to the corona virus epidemic. The effort is to ensure that all market segments operate normally with sufficient cash and turnover.
It is noteworthy that the central bank infused capital of Rs 10,000 crore on Friday through open market activities. The central bank will pay 6.84 per cent on securities maturing on 19 December 2022, 7.72 per cent on those maturing on 25 May 2025, 8.33 per cent on securities maturing on 9 July 2026 and 7.26 per cent on securities maturing on 14 January 2029. .
Earlier, on Monday, RBI Governor Shaktikanta Das said that the regulator has adequate policy measures and is willing to take all possible steps if needed to remove the economy from the effects of the Corona virus epidemic.
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