RBI sells Government securities worth Rs.50,000 crore in open market

The Reserve Bank of India (RBI) secured bids totaling Rs 50,000 crore in the initial segment of its open market operation (OMO) involving the sale of government securities, as it reinforced its strategy to manage excess liquidity within the banking sector. According to a release, the RBI secured Rs 7,005 crore of the 7.59 per cent government securities maturing in 2029 at a cut-off yield of 6.6007 per cent and Rs 7,255 crore of the 6.79 per cent GS 2029 at 6.7023 per cent. It also secured Rs 1,005 crore of the 7.61 per cent GS 2030 at 6.8191 per cent and Rs 12,645 crore of the 5.77 per cent GS 2030 at 6.8589 per cent. The central bank further secured Rs 3,250 crore of the 6.68 per cent GS 2031 at 6.9080 per cent, while the largest acceptance of Rs 18,840 crore was for the 8.28 per cent GS 2032 at a cut-off yield of 7.0090 per cent.