Reserve bank of India has decided to purchase Government securities worth Rs.10,000 crore through Open Market Operations (OMO) coming Friday as a measure to ease liquidity crisis.
The auction will be held in RBI’s Mumbai Office. Government securities are priced in various coupon rate based on the maturity period. The Government securities which matures in 2017 will carry a coupon rate of 8.07% while the security which matures in 2024 will have a coupon rate of 9.15%, G-secs maturing in 2027 will have a coupon rate of 8.28% and G-Secs maturing in 2030 will have a coupon rate of 8.97%.
While announcing the news, The Reserve bank of India Governor Subir Gokarn said that the liquidity is likely to be pressure for some time due to the factors like advance tax payment. However the scope for Open market Operations exists, which will soften liquidity crisis.
Last time, RBI purchased Rs.82,000 crore worth Government securities to stabilize liquidity system in the money market.
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