MUMBAI:  The Reserve Bank of India (RBI) will buy up to 120 billion rupees ($2.27 billion) of government bonds on Friday through an open market operation (OMO) following the persistent tightness in cash conditions.

The RBI will buy the 8.19 percent 2020 bonds, 9.15 percent 2024 bond, 8.97 percent 2030 bond and 8.28 percent 2032 bonds in the OMO, it said on Monday.


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