RBI mops up ₹11.6K cr via OMOS in July amid liquidity surplus
Business Standard|August 12, 2024
The Reserve Bank of India (RBI) did outright open market operation (OMO) sales of government securities worth ₹11,675 crore in July in order to drain out excess liquidity from the banking system, according to the latest data by the RBI.
ANJALI KUMARI

The OMO was screen-based, and so, no formal auction was conducted in order to sell the government securities.

OMO refers to the purchase or sale of government securities in the open market by the central bank. The RBI had not conducted any OMO in June.

The banking system liquidity remained largely in surplus mode during July.

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