RBI gets double the bids in Rs 40,000 crore open market operation auction

The RBI's OMO purchase witnessed robust demand, with bids exceeding the notified amount, indicating banks' eagerness to capitalize on higher bond prices. Longer-tenured bonds were auctioned at a discount, while shorter-tenured bonds traded near market levels. Ample system liquidity, supported by RBI actions, has driven bond yields below 6.40%, with further OMOs planned to maintain stability.