 "RBI to buy up to Rs 10,000 crores of govt bonds via OMO on Dec 7")
Reserve Bank of India said on Wednesday it will buy up to Rs 10,000 crores ($1.50 billion) of government bonds on December 7 through open market operations to inject cash into the banking system, its first purchases from markets since October 28.
The RBI will buy 7.83% 2018 bonds, 7.28% 2019 bonds, 8.40% 2024 bonds, and 7.88% 2030 bonds, the central bank said.
The cash injection should alleviate a recent liquidity deficit in the banking system.
The RBI will also conduct a 28-day variable repo auction for Rs 25,000 crores on Friday, it said.
($1 = 66.5700 rupees)
