RBI OMO purchase to buy Rs 1-lakh crore government securities on March 9 and 13

The Reserve Bank of India (RBI) said it will buy government securities worth Rs 1 lakh crore. The open market operation (OMO) purchase will be held in two separate auctions. RBI said the plan followed a review of liquidity and wider financial conditions. Each auction tranche will be for Rs 50,000 crore.

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The central bank announced the move before expected cash outflows from banks. These outflows are linked to advance tax payments and Goods and Services Tax (GST) dues later this month. RBI noted that system liquidity still sits in surplus. The surplus was Rs 3.02 lakh crore at the time of the announcement.

RBI OMO purchase schedule and auction process

RBI said the first auction will be conducted on March 9, 2026. Bids will be accepted between 9:30 am and 10:30 am on March 9, 2026. RBI said the auction result will be declared the same day. Successful participants must ensure securities are available in the SGL account by 12 noon on March 10, 2026.

The full OMO programme totals Rs 1 lakh crore through two tranches. RBI said the second tranche will be conducted on March 13. Each tranche will be for Rs 50,000 crore. RBI did not set out the second auction’s bidding hours in the update. The central bank linked the decision to prevailing liquidity and financial conditions.

RBI OMO purchase: government securities to be bought

For the March 9 operation, RBI listed the bonds it plans to purchase. These include 6.01 per cent GS 2030 and 6.10 per cent GS 2031. The list also includes 7.18 per cent GS 2033 and 6.19 per cent GS 2034. RBI added 6.33 per cent GS 2035, 6.92 per cent GS 2039, and 7.30 per cent GS 2053.

RBI OMO purchase and liquidity trend in 2026

RBI data showed earlier injections through similar operations this year. The central bank has infused Rs 2.50 lakh crore via OMO purchases since the start of the calendar year. The latest auctions were announced despite a strong liquidity surplus. RBI linked the timing to likely banking system outflows tied to tax and GST payments later this month.

With inputs from PTI