The Reserve Bank of India has announced that second auction for special simultaneous purchase and sale of government securities under Open Market Operations (OMOs) for an aggregate amount of Rs. 20,000 crore in two tranches of Rs.10,000 crore each is scheduled for September 17. The first auction was conducted on September 10.
RBI reserves the right to decide on the quantum of purchase/sale of individual securities, accept bids/offers for less than the aggregate amount, purchase/sell marginally higher/lower than the aggregate amount due to rounding-off, accept or reject any or all the bid/offers either wholly or partially without assigning any reasons. Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on September 17. Only in the event of system failure, physical bids/offers would be accepted. Such physical bid/offer should be submitted to Financial Markets Operations Department in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 11.00 a.m.
The result of the auctions will be announced on the same day and successful participants should ensure availability of funds/securities in their current account/SGL account, as the case may be, by 12 noon on September 18.