MUMBAI: The Reserve Bank of India (RBI) said it would pump in Rs400 billion (Rs40000 crore) to the market through Open Market Operations (OMOs).
“Based on an assessment of the durable liquidity needs going forward, RBI has decided to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs400 billion in the month of December 2018,” RBI said in an official statement said.
The auction dates and the Government securities to be purchased in the respective auctions would be communicated in due course. “The OMO amount stated here is indicative and RBI retains the flexibility to change it, depending on the evolving liquidity and market conditions,” RBI added.
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