MUMBAI : The Reserve Bank of India (RBI) received bids of ₹64,746 crore, or six times more than the face value of bonds it had offered to buy from the market, under the bond-swapping programme billed as Operation Twist.
For the sale of securities, RBI received nearly ₹50,260 crore worth of bids, or five times more than the offer. RBI had earlier said it would conduct a simultaneous buy-sale market intervention of government securities under open market operations (OMO) for ₹10,000 crore each on 27 April.
Typically, the central bank conducts OMO sales to suck out excess liquidity from the financial system, or OMO purchases to infuse liquidity in a single day.