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RBI to conduct open market operations worth Rs 20,000 crore

The Reserve Bank of India (RBI) has announced the sale and purchase of government securities worth Rs 20,000 crore under open market operations.

The OMO would be conducted in two tranches, each worth Rs 10,000 crore. The auctions would be conducted on August 27, 2020 and September 3, 2020.

"On a review of current and evolving liquidity and market conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each," an RBI statement said.

It further said that the central bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets..