As announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, the Reserve Bank has conducted two Open Market Operations (OMOs) in State Developments Loans (SDLs) covering all States/UTs for a cumulative amount of ₹20,000 crore. It has now been decided to conduct another purchase auction of SDLs under Open Market Operations (OMOs) for an aggregate amount of ₹10,000 crore on December 23, 2020.

2. Accordingly, the Reserve Bank will purchase the SDLs as given in the Annex through a multi-security auction using the multiple price method. There is no security-wise notified amount. The Reserve Bank reserves the right to:

• decide on the quantum of purchase of individual securities.

• accept bids for less than the aggregate amount.

• purchase marginally higher/lower than the aggregate amount due to rounding-off.

• accept or reject any or all the bids either wholly or partially without assigning any reasons.

3. Eligible participants should submit their bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on December 23, 2020. Only in the event of system failure, physical bids/offers would be accepted. Such physical bid/offer should be submitted to Financial Markets Operations Department (email; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (/en/web/rbi/forms) before 11.00 am.

4. The result of the auction will be announced on the same day and successful participants should ensure availability of requisite amount of securities in their SGL account by 12 noon on December 24, 2020.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/794

Annex