The Reserve Bank of India (RBI) on Friday injected Rs 50,000 crore into the banking system through Open Market Operation (OMO) purchases of government securities.
The central government purchased 7.41 per cent GS 2036 bonds worth Rs 14,491 crore, 6.45 per cent GS 2029 bonds worth Rs 13,006 crore, 6.64 per cent GS 2035 bonds of Rs 8,350 crore, 7.06 per cent GS 2046 bonds of Rs 5,000 crore, 6.79 per cent GS 2034 bonds of Rs 4,496 crore, 7.95 per cent GS 2032 bonds of Rs 2,908 crore, and 7.62 per cent GS 2039 bonds of Rs 1,749 crore, the release said.
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The liquidity currently in the banking system is estimated to be in surplus of about Rs 2.49 lakh crore.
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This auction was part of the two auctions of Rs 50,000 crore each announced by the RBI last week.
The OMO purchase auction was announced ahead of expected heavy outflows from the banking system due to advance tax and Goods and Services Tax (GST) payments scheduled later this month.
As per RBI data, the central bank has infused Rs 3.50 lakh crore through OMO purchases of government securities so far since the start of this calendar year, including today's auction.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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