Mumbai, March 9 The Reserve Bank of India (RBI) injected ₹50,000 crore into the banking system on Monday through Open Market Operations (OMO) purchases of government securities, according to a release.
The central bank purchased 6.33% GS (Government Security) bonds worth ₹13,507 crore, 6.01% GS 2030 worth ₹13,494 crore, 6.10% GS 2031 worth ₹8,157 crore, 7.30% GS 2053 worth ₹6,955 crore, 7.18% GS 2033 worth ₹4,479 crore, 6.92% GS 2039 worth ₹2,304 crore, and 6.19% GS 2034 worth ₹1,104 crore, it said.
The liquidity in the banking system is currently estimated to be in excess of approximately ₹2.41 lakh crore.
The OMO purchase auction was announced in anticipation of significant outflows from the banking system due to advance tax and Goods and Services Tax (GST) payments scheduled later this month. This comes even as liquidity conditions in the banking system currently remain in a significant surplus of ₹3.02 lakh crore.
According to RBI data, it has infused ₹2.50 lakh crore through OMO purchases of government securities since the start of this calendar year.
