The Reserve Bank of India (RBI) on Friday announced that it will sell government securities worth Rs 10,000 crore through open market operations (OMO).
The RBI bimonthly monetary policy decision is slated at 2.30 pm on Wednesday, 4 Oct 2017. The RBI had cut policy repo rate by 25 bps to 6% after its last monetary policy meeting in August, reducing the key policy rates for the first time in this financial year.
"Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct sale of government securities under OMO for an aggregate amount of Rs 100 billion," the central bank said in a statement.
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According to RBI, the proposed sale will take place on October 12 through multi-security auction using the multiple price method.
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