Mumbai, March 13 The Reserve Bank of India (RBI) injected ₹50,000 crore into the banking system on Friday through Open Market Operations (OMO) purchases of government securities.
The central government purchased 7.41 per cent GS 2036 bonds worth ₹14,491 crore, 6.45 per cent GS 2029 bonds worth ₹13,006 crore, 6.64 per cent GS 2035 bonds worth ₹8,350 crore, 7.06 per cent GS 2046 bonds worth ₹5,000 crore, 6.79 per cent GS 2034 bonds worth ₹4,496 crore, 7.95 per cent GS 2032 bonds worth ₹2,908 crore, and 7.62 per cent GS 2039 bonds worth ₹1,749 crore, the release said.
The liquidity currently in the banking system is estimated to be in excess of about ₹2.49 lakh crore.
This auction was part of the two auctions of ₹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.
According to RBI data, the central bank has infused ₹3.50 lakh crore through OMO purchases of government securities so far since the start of this calendar year, including today's auction.
