The OMO operation will help ease tight liquidity situation triggered by a series of default by group companies of IL&FS.
The RBI said it has the right to decide on the quantum of purchase of individual securities and can also accept offers for less than Rs 12,000 crore.
Reserve Bank of India to inject Rs 12,000 cr liquidity in system on 1 November; to purchase govt securities
The RBI had announced last week that it would inject Rs 40,000 crore into the system in November as it looks to meet festive season demand for funds.
The Chief Minister during the meeting stressed on furnishing timely utilisation certificates against different schemes by the departments and timely completion of major welfare schemes within three years.