The Reserve Bank of India announced on June 11 that it will inject 15 billion rupees into the financial system through the purchase of bonds on June 13. "Based on an assessment of prevailing liquidity conditions as well as long-term liquidity needs, the RBI decided to conduct the purchase of (six) government bonds under OMOs for an aggregate amount of Rs 150 billion on June 13, 2019 (Thursday ) by auctioning multiple securities using the multi-price method, "the central bank said in a statement.
In addition, said that there is a aggregate overall ceiling of Rs 15,000 crore for all the securities of the basket together and there is no reported value in terms of security.
Participants must submit their offers electronically in the Central Bank of India (E-Kuber) system.
The auction result will be announced the same day and payment to successful participants will be made the next day.
The RBI uses open market operations (OMO) to inject liquidity into the system through the purchase of government bonds (G-sec).