Mumbai, Sept 08: The open market operation (OMO) of 6.05 per cent government stock, 2019, and auction of 10 year stocks of three state governments aggregating Rs 955 crore sailed through comfortably today. Reserve Bank of India received 377 bids totalling Rs 9,636 crore for the 6.05 per cent GOI of notified amount Rs 5,000 crore, the apex bank said in a release here. The cut-off price was Rs 102.51 while the yield to maturity stood at 5.8 per cent, it said, adding RBI accepted 196 bids aggregating Rs 5,000 crore.

On the auction of 10 year stocks of Maharashtra (Rs 400 crore on notified amount), Madhya Pradesh (Rs 220 crore) and West Bengal (Rs 335 crore), it said the bank received 55 bids totalling Rs 1,115.75 crore in the first case and cut-off yield was 5.78 per cent. For Madhya Pradesh and West Bengal, the bids received were 19 for Rs 407.5 crore and 27 for Rs 961.5 crore respectively.

The cut off yield was six per cent for Madhya Pradesh and 5.78 per cent for West Bengal.

RBI accepted nine bids for Madhya Pradesh and one each for Maharashtra and West Bengal. Bureau Report