Reserve Bank of India (RBI) on Tuesday announced the purchase of government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 25,000 crore in May in a bid to ease the liquidity deficit in the banking system. According to CARE Ratings, the average liquidity deficit for the week ended April 19 rose to a two-month high of Rs 85,091 crore, which was Rs 49,314 crore higher than the deficit in the previous week. The net outstanding liquidity deficit rose to Rs 1.01 lakh crore on April 18, the highest level since March-end. Some of this is due to a rise in the currency in circulation (CIC) in recent weeks. At Rs 21.7 lakh crore, as of April 12, it was Rs 37,800 crore, or 1.8%, higher than that in March-end. The OMO will take place through two auctions of Rs 12,500 crore each. The first auction for Rs 12,500 crore will be conducted on May 2. The date of the next auction and the government securities to be purchased in that auction would be communicated in due course, the RBI said.