Banks gain … RBI announces OMO of simultaneous purchase
RBI announced open market operation tomorrow worth Rs10000cr.
As a results, 10-Year G-Sec Yield declined 6bps to one month low at 5.82%. Fall in 10-year G-Sec Yield will be positive for BoB, SBI, ICICI, PNB. (Attached 10-year G-Sec Yield chart)
The Reserve Bank of India (RBI) on Monday announced special open market operations (OMO) of government securities worth Rs 10,000 crore.
“On a review of current and evolving liquidity and market conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs 10,000 crore each on July 2,” the central bank said in a release.
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