- Reserve Bank of India (RBI) conducted the simultaneous purchase of Government Securities and sale of 182 day and 364 day treasury bills (DTBs) under Open Market Operations (OMO) for Rs 10,000 crore each.
- This OMO is a part of “Operation Twist” to ease pressure evolving liquidity and market conditions.
- The main purpose of the OMO is to bring down the yields at the longer end.
- 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 or accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.
Note: 1) RBI is responsible only for printing the currency notes. Minting of coins is done by the Government of India.
2) Dr.Manmohan Singh is the only Prime Minister to have also served as the Governor of RBI