Reserve Bank to infuse Rs 37,500 crore through OMO in February

The Reserve Bank of India Tuesday said it will inject Rs 37,500 crore into the system through the purchase of government securities in February to increase liquidity.

The RBI said it has been monitoring the evolving liquidity conditions and durable liquidity requirements of the system.

Also read: Modi govt likely to make big announcement for farmers! Here's what you can expect

"Accordingly, it has been decided to conduct the purchase of government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 375 billion in the month of February 2019 through three auctions of Rs 125 billion each during the 2nd, 3rd and 4th week," the RBI said in a release.

There will be no auction during the first week due to the scheduled MPC meeting, it added.

The apex bank said it will inform about the auction dates in the due course.

The OMO for the month is indicative and the RBI retains the flexibility to change it, depending on the evolving liquidity and market conditions, it said further.

Also read: PM Modi memorabilia put on sale for 'Namami Gange' project; check out items on offer

Also Read: Tamil Nadu, Andhra Pradesh lag behind Haryana in girl sex ratio at birth