Business Economy

Reserve Bank to pump in ₹12,500 crore on June 20

The Reserve Bank of India said on Thursday said it will infuse ₹12,500 crore into the financial system through bond purchases on June 20.

The decision has taken based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, the central bank said in a statement.

The purchase of government securities under the open market operation (OMO) for ₹125 billion (₹12,500 crore) will be conducted on June 20, 2019.

The government securities to be purchased in the auction would be communicated in due course, the RBI added.

Earlier in the day, the Reserve Bank of India injected ₹15,000 crore into the system through bond purchases.

The Reserve Bank uses open market operations (OMO) for injecting liquidity into the system through the purchase of government bonds (G-sec).

Source: thehindu.com

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