In a bid to ease liquidity conditions in the market, the Reserve Bank of India (RBI) will soon purchase government bonds worth crores of rupees under Open Market Operations (OMOs).

The central bank on Friday announced that it would purchase the government bonds of up to Rs 10,000 crore under OMOs on Wednesday, January 22. This is going to be the first OMO auction by the central bank in the last two months.

Announcing the decision, the central bank said that the move aimed at ensuring adequate flow of credit to the economy's productive sectors.

It said in a statement, "The current assessment suggests that the strain on market liquidity is likely to remain enduring in view of the fiscal targets . Liquidity is being managed with a view to ensuring that there is adequate credit flow to the productive sectors of the economy."

Last week, the RBI pumped nearly Rs 54,000 crore on an average daily into the economy through various channels like the repo window, the term repo window and marginal standing facility to address the liquidity crunch.

Over past few quarters, the liquidity conditions tightened due to cuts in government spending. The government aims to contain fiscal deficit at 4.8 per cent of the country's gross domestic product (GDP) for the current financial year.