Accordingly, the RBI simultaneously indicated its intention to purchase government securities under open market operations (OMO) for an indicative amount of Rs.80,000 crore $ billion) during the first half of 2009-10. BIS Review 88/2009  5  The distribution method for the primary issuances was also shifted to uniform price auction in view of the uncertain market conditions.
Offers of shorter term bonds and benchmark securities have also helped meet investor preference and stabilise yields. The general easing of monetary conditions, in addition to the above measures have also ensured that the additional borrowing needs of the government do not result in crowding out of credit to the private sector and helped in maintaining stable conditions in the government securities markets.