The Reserve Bank of India (RBI) on Friday announced that it will conduct auctions of purchases of Government of India securities under the Open Market Operation (OMO). ₹1,00,000 crore to manage liquidity conditions in the financial system.
The central bank said the purchases would be made in two tranches ₹50,000 crore each, scheduled for March 9, 2026 and March 13, 2026.
The move follows a review of current liquidity and financial market conditions, the RBI said in a statement.
Securities for purchase
In the first tranche on March 9, the RBI will buy more government securities through a multi-securities auction using the multiple price method.
Securities eligible for purchase include:
— 6.01% Government Security 2030 (due July 21, 2030)
— 6.10% Government Security 2031 (due July 12, 2031)
— 7.18% Government Security 2033 (due August 14, 2033)
— 6.19% Government Security 2034 (due September 16, 2034)
— 6.33% Government Security 2035 (due May 5, 2035)
— 6.92% Government Security 2039 (due November 18, 2039)
— 7.30% Government Security 2053 (due June 19, 2053)
The total purchase amount for the auction is ₹50,000 crore with no specified allocation for security.
Auction Timeline and Settlement
Eligible bidders must submit their bids electronically on E-Kuber, RBI’s core banking platform, between 9:30 AM and 10:30 AM on March 9, 2026. The results of the auction will be announced on the same day.
Successful bidders must ensure availability of securities in their Subsidiary General Ledger (SGL) accounts by 12 noon on March 10, 2026, RBI said.
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The top bank also said it reserves the right to determine the amount of individual securities it will buy, to accept bids at less than the total announced amount, or to buy marginally more or less than the aggregate amount due to rounding adjustments.
It may also accept or reject any or all offers, either in whole or in part, without assigning any reason, according to the statement.
Liquidity management
OMO purchase occurs when a central bank such as the RBI purchases government securities from commercial banks and financial institutions.
This allows the apex bank to inject liquidity into the banking system by buying government bonds from the market, which helps stabilize financial conditions and supports the flow of credit in the economy.
In December 2025, RBI Governor Sanjay Malhotra said the central bank’s Monetary Policy Committee (MPC) decided to conduct OMO purchases of government securities ₹1 million crore, according to PTI.
