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The Reserve Bank of India (RBI) has bought Rs100 billion worth of bonds from the secondary market under its open market operations (OMO) programme.
This was the second OMO purchase this year, and something that the market was widely expecting, considering the banking liquidity reducing to neutral levels. OMOs infuse durable liquidity in the banking system.
The RBI did not buy anything from the bonds maturing in 2026 and 2029, but bought some amount from a loner period bond maturing in 2032, at 8 per cent, five basis points lower than the market rate.
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ALSO READ: RBI moots legal
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