MUMBAI, July 9: The Reserve Bank of India (RBI) has mopped up nearly Rs 800 crore in the last three days through aggressive open market operations (OMO) launched on Monday. This is likely to put pressure on the inter-bank call money rates as about Rs 2,824 crore also went into the 5 per cent fixed-rate repo.The apex bank, which had mopped up only Rs 112 crore on Monday and Wednesday, mopped up Rs 680 crore on Thursday. The 11.55 per cent gilt maturing in 2001, which was put out at the sale window at 11.07 per cent, was bought by a few banks today. In fact, most of the money that the RBI has mopped up through the OMO is through the sale of this security.
The other securities that have been put out but are receiving a lukewarm response include the 11.75 per cent gilt maturing in 2003, the 11.90 per cent gilt maturing in 2007 and the 12.15 per cent gilt maturing in 2008. A few deals were struck in the 11.75 per cent 2003 gilt.
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