In the third special open market operation in many weeks, the Reserve Bank of India (RBI) bought three long-term securities worth 10,000 crore rupees each while selling the same amount of three short-term bonds.The RBI had announced simultaneous purchase and sale of Government Securities (G-Secs) under Open Market Operations (OMOs) for 10,000 crore rupees each.
Though the RBI offered to sell four securities in the auction, it accepted bids for three bonds. In the current OMO purchase auction, the RBI offered to purchase three securities including 10-year benchmark government bond, as against just one bond in the previous two auctions. It got bids worth 64,505 crore rupees for the three bonds but choose to accept only bids of 10,000 crore rupees under the OMO purchase auction.