RBI Announces OMO Purchase of Government of India Dated Securities for Rs.12,000 crore on December 11, 2012

Date : 06 December 2012

Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct Open Market Operations by purchasing the following government securities for an aggregate amount of Rs.12,000 crore on December 11, 2012 through multi-security auction using the multiple price method:

The auction shall be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on December 11, 2012 (Tuesday).
Market participants may take note of the following:

There is an overall aggregate ceiling of Rs.12,000 crore for all the securities in the basket put together. There is no security-wise notified amount.

RBI reserves the right to:

• Decide on the quantum of purchase of individual securities.
• Accept less than the aggregate amount of Rs. 12,000 crore.
• Purchase marginally higher than the aggregate amount due to rounding effects.
• Accept or reject any or all of the offers either wholly or partially if deemed fit without assigning reason.

The eligible participants should submit their offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on December 11, 2012 (Tuesday). Any physical offer should be submitted to Mumbai Office (Public Accounts Department) in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office, Fort, Mumbai-400001 and/or RBI website (www.rbi.org.in)

The result of the auction will be announced on the same day and payment to successful offerers will be made during banking hours on December 12, 2012 (Wednesday).Successful offerers may note to make available the requisite amount of securities in their SGL account by 12 noon on December 12, 2012.

Ajit Prasad
Assistant General Manager

Press Release : 2012-2013/952