The Reserve Bank of India (RBI) said it would sell government bonds worth Rs 10,000 crore through Open Market Operations (OMO) to mop up liquidity from the system.
"Based on the current assessment of prevailing and evolving liquidity conditions, the RBI has decided to conduct the sale of government securities under Open Market Operations for an aggregate amount of Rs 10, 000 crore on October 12, 2017, through multi-security auction using the multiple price method," the central bank said in a statement. 6 Investments That Offer Tax Free Income In India
As part of the OMO, the RBI will sell government securities maturing in 2019 (bearing interest rate of 6.90 per cent), 2021 (7.80 per cent), 2022 (8.08 per cent), 2024 (7.35 per cent) and 2030 (7.88 per cent). 7 Tax Free Bonds That Look Good For Tax Free Income