RBI to purchase govt bonds and pump Rs 15,000 cr into financial system

The Reserve Bank Friday said it will inject Rs 15,000 crore into the financial system next month through the purchase of government bonds via the auction route. The government securities will be bought under Open Market Operations (OMO).

The decision has been taken in view of the evolving liquidity situation, the central bank said in a statement. "Based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, RBI has decided to conduct the purchase of Government securities under OMO for Rs 150 billion on June 13, 2019," the RBI said.

Details about the purchase of the government securities would be communicated in due course, it added.