RBI to buy Govt bonds worth Rs.15,000 cr via OMO
The Dollar Business Bureau In order to infuse liquidity in to the banking system, the Reserve Bank of India (RBI) will purchase government bonds amounting to Rs.15,000 crore via open market operations (OMO) next week. The latest announcement comes barely a week after the bank bought government securities worth Rs.15,000 crore through OMO. In a statement released on Friday, the RBI said, “On the basis of recent assessment of prevalent and growing liquidity conditions, the Bank has decided to buy government securities under OMO for an average amount of Rs.150 billion on May 31.” There is a total aggregate limit of Rs.150 billion for all the government securities taken together. Purchase of extra securities would help the bank to release the ...
Food grain sale to continue under Open Market Scheme
The Dollar Business Bureau The Government of India (GoI) has decided that the sale of food grains for the year 2015-16 would continue through the existing Open Market Scheme (OMS). The information to this effect was provided to the States by the Department of Food and Public Distribution, Ministry of Consumer Affairs, GoI, on Tuesday. In an official release, the government said that it has decided to continue the sale of wheat in the domestic market under the OPS scheme, but only in subject to specific changes. According to the first such modification, the sale of wheat under the above-said scheme would be implemented after March 31, 2015, but only in the non-wheat procuring States. The non-wheat procuring States ...
